Canadian Solar Inc. (CSIQ) Reaches New 1-Year Low at $12.16
Shares of Canadian Solar Inc. (NASDAQ:CSIQ) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $12.16 and last traded at $12.22, with a volume of 3,205,875 shares trading hands. The stock had previously closed at $13.08.
A number of equities analysts recently issued reports on CSIQ shares. Vetr downgraded shares of Canadian Solar from a “strong-buy” rating to a “buy” rating and set a $19.06 price objective on the stock. in a report on Wednesday, May 11th. Morgan Stanley downgraded shares of Canadian Solar from an “overweight” rating to an “underweight” rating and dropped their price objective for the stock from $24.00 to $12.80 in a report on Wednesday, August 3rd. FBR & Co reissued a “buy” rating and issued a $32.00 price objective on shares of Canadian Solar in a report on Monday, June 27th. Zacks Investment Research downgraded shares of Canadian Solar from a “buy” rating to a “hold” rating in a report on Friday, July 8th. Finally, Roth Capital reissued a “buy” rating and issued a $20.00 price objective on shares of Canadian Solar in a report on Monday, August 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. Canadian Solar presently has an average rating of “Buy” and an average target price of $26.82.
The stock’s 50 day moving average is $14.54 and its 200-day moving average is $17.51. The company has a market cap of $695.33 million and a PE ratio of 5.33.
A hedge fund recently raised its stake in Canadian Solar stock. Morgan Stanley raised its stake in Canadian Solar Inc. (NASDAQ:CSIQ) by 214.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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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