BidaskClub cut shares of Canadian Solar (NASDAQ:CSIQ) from a buy rating to a hold rating in a report issued on Thursday morning.

CSIQ has been the topic of several other research reports. Goldman Sachs Group assumed coverage on Canadian Solar in a report on Tuesday, January 9th. They issued a neutral rating and a $19.00 price target on the stock. Zacks Investment Research upgraded Canadian Solar from a hold rating to a buy rating and set a $20.00 price target on the stock in a report on Monday, November 13th. B. Riley set a $15.00 price target on Canadian Solar and gave the stock a hold rating in a report on Monday, December 11th. Cowen reiterated a hold rating and issued a $17.00 price target on shares of Canadian Solar in a report on Sunday, October 22nd. Finally, Roth Capital upgraded Canadian Solar from a neutral rating to a buy rating and set a $24.00 price target on the stock in a report on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Hold and an average price target of $18.82.

Shares of Canadian Solar (NASDAQ CSIQ) traded down $0.06 during trading hours on Thursday, reaching $15.80. The company’s stock had a trading volume of 669,806 shares, compared to its average volume of 1,000,000. The company has a market capitalization of $913.72, a price-to-earnings ratio of 38.54, a P/E/G ratio of 0.34 and a beta of 3.10. The company has a current ratio of 0.95, a quick ratio of 0.88 and a debt-to-equity ratio of 0.45. Canadian Solar has a 1-year low of $10.86 and a 1-year high of $19.09.

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

Several institutional investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. raised its stake in shares of Canadian Solar by 9.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 64,707 shares of the solar energy provider’s stock worth $1,091,000 after purchasing an additional 5,452 shares during the last quarter. Quentec Asset Management LLC raised its stake in shares of Canadian Solar by 1.9% in the third quarter. Quentec Asset Management LLC now owns 2,755,665 shares of the solar energy provider’s stock worth $46,405,000 after purchasing an additional 52,412 shares during the last quarter. Columbus Circle Investors raised its stake in shares of Canadian Solar by 292.7% in the third quarter. Columbus Circle Investors now owns 78,380 shares of the solar energy provider’s stock worth $1,320,000 after purchasing an additional 58,421 shares during the last quarter. Cipher Capital LP raised its stake in shares of Canadian Solar by 11.7% in the third quarter. Cipher Capital LP now owns 108,975 shares of the solar energy provider’s stock worth $1,835,000 after purchasing an additional 11,394 shares during the last quarter. Finally, Global X MANAGEMENT CO LLC raised its stake in shares of Canadian Solar by 9.5% in the third quarter. Global X MANAGEMENT CO LLC now owns 41,031 shares of the solar energy provider’s stock worth $691,000 after purchasing an additional 3,550 shares during the last quarter. 42.08% of the stock is owned by hedge funds and other institutional investors.

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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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