Canadian Solar Inc. (CSIQ) Stock Price Up 2.1%
Canadian Solar Inc. (NASDAQ:CSIQ) shares rose 2.1% on Friday . The stock traded as high as $13.52 and last traded at $13.25, with a volume of 1,055,697 shares traded. The stock had previously closed at $12.98.
CSIQ has been the topic of several analyst reports. Vetr cut shares of Canadian Solar from a “strong-buy” rating to a “hold” rating and set a $14.42 price target on the stock. in a research note on Tuesday, August 9th. Morgan Stanley cut shares of Canadian Solar from an “overweight” rating to an “underweight” rating and dropped their price target for the stock from $24.00 to $12.80 in a research note on Wednesday, August 3rd. Zacks Investment Research cut shares of Canadian Solar from a “hold” rating to a “sell” rating in a research note on Monday, July 18th. Canaccord Genuity reiterated a “buy” rating and set a $29.00 price target on shares of Canadian Solar in a research note on Wednesday, June 29th. Finally, Roth Capital reiterated a “buy” rating and set a $20.00 price target on shares of Canadian Solar in a research note on Monday, August 8th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $23.73.
The company has a market cap of $756.35 million and a P/E ratio of 4.98. The stock’s 50 day moving average price is $14.19 and its 200 day moving average price is $17.18.
Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings results on Thursday, August 18th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.31. The company had revenue of $805.90 million for the quarter, compared to analyst estimates of $735.82 million. During the same quarter in the previous year, the company posted $0.31 EPS. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. Analysts predict that Canadian Solar Inc. will post $1.61 earnings per share for the current year.
A hedge fund recently raised its stake in Canadian Solar stock. Morgan Stanley increased its position 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 firm owned 523,185 shares of the company’s stock after buying an additional 357,042 shares during the period. Morgan Stanley owned approximately 0.93% of Canadian Solar worth $15,152,000 as of its most recent filing with the SEC.
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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