Canadian Solar Inc. (NASDAQ:CSIQ) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $12.16 and last traded at $12.22, with a volume of 3,205,875 shares traded. The stock had previously closed at $13.08.

Several research analysts recently issued reports on the stock. FBR & Co reiterated a “buy” rating on shares of Canadian Solar in a research report on Thursday, May 12th. Canaccord Genuity reiterated a “buy” rating and set a $29.00 price target (down previously from $30.00) on shares of Canadian Solar in a research report on Saturday, May 14th. Zacks Investment Research downgraded shares of Canadian Solar from a “buy” rating to a “hold” rating in a research report on Friday, July 8th. Roth Capital reiterated a “buy” rating and set a $28.00 price target on shares of Canadian Solar in a research report on Sunday, May 15th. Finally, Vetr downgraded shares of Canadian Solar from a “strong-buy” rating to a “buy” rating and set a $19.06 price target on the stock. in a research report on Wednesday, May 11th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $26.06.

The company’s 50 day moving average price is $14.46 and its 200 day moving average price is $17.44. The company has a market capitalization of $816.53 million and a P/E ratio of 6.26.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings data on Thursday, August 18th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.33. The business earned $805.90 million during the quarter, compared to analyst estimates of $735.82 million. The business’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same period last year, the business earned $0.31 earnings per share. Equities analysts predict that Canadian Solar Inc. will post $1.96 earnings per share for the current year.

An institutional investor recently raised its position in Canadian Solar stock. Morgan Stanley raised its stake in shares of Canadian Solar Inc. (NASDAQ:CSIQ) by 214.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 523,185 shares of the company’s stock after buying an additional 357,042 shares during the period. Morgan Stanley owned 0.93% of Canadian Solar worth $15,152,000 as of its most recent SEC filing.

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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