Canadian Solar Inc. (NASDAQ:CSIQ) shares were down 2.1% on Friday . The company traded as low as $12.80 and last traded at $12.82, with a volume of 1,613,371 shares trading hands. The stock had previously closed at $13.09.

A number of research analysts recently weighed in on CSIQ shares. Zacks Investment Research lowered Canadian Solar from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 10th. Vetr lowered Canadian Solar from a “strong-buy” rating to a “buy” rating and set a $19.06 price objective for the company. in a research report on Wednesday, May 11th. FBR & Co reaffirmed a “buy” rating on shares of Canadian Solar in a research report on Thursday, May 12th. Canaccord Genuity reaffirmed a “buy” rating and set a $29.00 price objective (down previously from $30.00) on shares of Canadian Solar in a research report on Saturday, May 14th. Finally, Roth Capital reaffirmed a “buy” rating and set a $28.00 price objective on shares of Canadian Solar in a research report on Sunday, May 15th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. Canadian Solar has a consensus rating of “Buy” and a consensus price target of $26.82.

The company has a market cap of $734.59 million and a P/E ratio of 5.64. The firm’s 50-day moving average is $14.61 and its 200-day moving average is $17.64.

Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Wednesday, May 11th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.25. The company had revenue of $721.40 million for the quarter, compared to analysts’ expectations of $663.74 million. During the same quarter in the prior year, the company earned $1.04 EPS. The firm’s quarterly revenue was down 16.2% on a year-over-year basis. Analysts anticipate that Canadian Solar Inc. will post $1.96 EPS for the current fiscal year.

A number of hedge funds recently bought and sold shares of CSIQ. Morgan Stanley raised its stake in Canadian Solar by 214.9% in the fourth quarter. Morgan Stanley now owns 523,185 shares of the company’s stock worth $15,152,000 after buying an additional 357,042 shares in the last quarter. California Public Employees Retirement System raised its stake in Canadian Solar by 0.3% in the fourth quarter. California Public Employees Retirement System now owns 181,200 shares of the company’s stock worth $5,248,000 after buying an additional 500 shares in the last quarter. Finally, Russell Frank Co raised its stake in Canadian Solar by 26.7% in the fourth quarter. Russell Frank Co now owns 64,652 shares of the company’s stock worth $1,852,000 after buying an additional 13,642 shares in the last quarter.

Canadian Solar Inc is a solar power company. The Company is a provider of solar power products, services and system solutions with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia. Its segments include module segment, energy development segment and electricity generation segment.

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