Goldman Sachs Group began coverage on shares of Canadian Solar (NASDAQ:CSIQ) in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. The firm issued a neutral rating and a $19.00 price objective on the solar energy provider’s stock.

A number of other analysts have also recently commented on CSIQ. B. Riley reiterated a neutral rating on shares of Canadian Solar in a research report on Wednesday, November 1st. Zacks Investment Research upgraded Canadian Solar from a hold rating to a buy rating and set a $20.00 target price on the stock in a research report on Monday, November 13th. Axiom Securities cut Canadian Solar from a buy rating to a hold rating and set a $17.00 target price on the stock. in a research report on Friday, December 15th. Cowen set a $18.00 target price on Canadian Solar and gave the stock a hold rating in a research report on Monday, December 11th. Finally, JPMorgan Chase & Co. cut Canadian Solar from a neutral rating to an underweight rating and set a $15.00 target price on the stock. in a research report on Tuesday, December 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $18.82.

Canadian Solar (CSIQ) traded down $0.02 on Tuesday, hitting $16.93. The stock had a trading volume of 576,459 shares, compared to its average volume of 1,040,000. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.95 and a quick ratio of 0.88. Canadian Solar has a twelve month low of $10.86 and a twelve month high of $19.09. The firm has a market capitalization of $979.06, a PE ratio of 41.29, a P/E/G ratio of 0.36 and a beta of 3.10.

Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Thursday, November 9th. The solar energy provider reported $0.22 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.22. Canadian Solar had a return on equity of 1.32% and a net margin of 0.84%. The business had revenue of $912.20 million for the quarter, compared to analysts’ expectations of $812.37 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The business’s revenue was up 38.8% compared to the same quarter last year. equities research analysts forecast that Canadian Solar will post 0.97 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the stock. Quentec Asset Management LLC increased its position in Canadian Solar by 1.9% in the 3rd quarter. Quentec Asset Management LLC now owns 2,755,665 shares of the solar energy provider’s stock valued at $46,405,000 after acquiring an additional 52,412 shares during the period. Schwab Charles Investment Management Inc. increased its position in Canadian Solar by 20.1% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 59,255 shares of the solar energy provider’s stock valued at $998,000 after acquiring an additional 9,932 shares during the period. Columbus Circle Investors increased its position in Canadian Solar by 292.7% in the 3rd quarter. Columbus Circle Investors now owns 78,380 shares of the solar energy provider’s stock valued at $1,320,000 after acquiring an additional 58,421 shares during the period. Cipher Capital LP increased its position in Canadian Solar by 11.7% in the 3rd quarter. Cipher Capital LP now owns 108,975 shares of the solar energy provider’s stock valued at $1,835,000 after acquiring an additional 11,394 shares during the period. Finally, Global X MANAGEMENT CO LLC increased its position in Canadian Solar by 9.5% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 41,031 shares of the solar energy provider’s stock valued at $691,000 after acquiring an additional 3,550 shares during the period. Hedge funds and other institutional investors own 42.08% of the company’s stock.

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About Canadian Solar

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.

Analyst Recommendations for Canadian Solar (NASDAQ:CSIQ)

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