Canadian Solar Inc. (CSIQ) Trading Up 2.1%
Canadian Solar Inc. (NASDAQ:CSIQ) was up 2.1% on Friday . The company traded as high as $13.52 and last traded at $13.25, with a volume of 1,055,697 shares. The stock had previously closed at $12.98.
A number of equities research analysts recently weighed in on CSIQ shares. Vetr downgraded Canadian Solar from a “strong-buy” rating to a “hold” rating and set a $14.42 target price on the stock. in a research report on Tuesday, August 9th. Morgan Stanley downgraded Canadian Solar from an “overweight” rating to an “underweight” rating and decreased their price objective for the company from $24.00 to $12.80 in a report on Wednesday, August 3rd. Zacks Investment Research downgraded Canadian Solar from a “hold” rating to a “sell” rating in a report on Monday, July 18th. Canaccord Genuity reaffirmed a “buy” rating and set a $29.00 price objective on shares of Canadian Solar in a report on Wednesday, June 29th. Finally, Roth Capital reaffirmed a “buy” rating and set a $20.00 price objective on shares of Canadian Solar in a report on Monday, August 8th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. Canadian Solar has a consensus rating of “Buy” and an average target price of $23.74.
The company’s 50 day moving average is $14.23 and its 200 day moving average is $17.22. The firm has a market capitalization of $756.35 million and a P/E ratio of 4.98.
Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings results on Thursday, August 18th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.31. The firm had revenue of $805.90 million for the quarter, compared to analyst estimates of $735.82 million. The business’s revenue was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.31 EPS. On average, equities analysts forecast that Canadian Solar Inc. will post $1.61 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Canadian Solar stock. Morgan Stanley boosted its stake in 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 firm 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 at the end of the most recent 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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