ValuEngine lowered shares of Canadian Solar (NASDAQ:CSIQ) from a hold rating to a sell rating in a research note released on Monday.

Other equities research analysts have also issued reports about the company. B. Riley set a $18.00 price objective on Canadian Solar and gave the stock a hold rating in a research report on Wednesday, August 15th. Zacks Investment Research lowered Canadian Solar from a buy rating to a hold rating in a research report on Friday, August 17th. BidaskClub upgraded Canadian Solar from a hold rating to a buy rating in a research report on Friday, November 2nd. Roth Capital restated a buy rating on shares of Canadian Solar in a research report on Thursday, November 15th. Finally, JPMorgan Chase & Co. upgraded Canadian Solar from an underweight rating to a neutral rating and set a $17.00 price objective for the company in a research report on Thursday, November 15th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $16.50.

NASDAQ:CSIQ opened at $16.47 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.83. Canadian Solar has a 1-year low of $11.37 and a 1-year high of $18.40. The firm has a market capitalization of $956.47 million, a P/E ratio of 15.84, a P/E/G ratio of 0.21 and a beta of 1.77.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings results on Thursday, November 15th. The solar energy provider reported $0.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.50. Canadian Solar had a return on equity of 15.89% and a net margin of 4.73%. The business had revenue of $767.97 million during the quarter, compared to analyst estimates of $806.13 million. Research analysts expect that Canadian Solar will post 2.45 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC purchased a new stake in shares of Canadian Solar during the 3rd quarter worth about $105,000. Sei Investments Co. raised its stake in shares of Canadian Solar by 467.8% during the 2nd quarter. Sei Investments Co. now owns 11,549 shares of the solar energy provider’s stock worth $141,000 after purchasing an additional 9,515 shares in the last quarter. Belpointe Asset Management LLC purchased a new stake in shares of Canadian Solar during the 2nd quarter worth about $145,000. Engineers Gate Manager LP purchased a new stake in shares of Canadian Solar during the 3rd quarter worth about $161,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of Canadian Solar during the 3rd quarter worth about $220,000. 39.58% of the stock is owned by institutional investors.

About Canadian Solar

Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power products primarily under the Canadian Solar brand name. The company operates through two segments, Module and System Solutions, and Energy. Its products include various solar modules that are used in residential, commercial, and industrial solar power generation systems.

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Analyst Recommendations for Canadian Solar (NASDAQ:CSIQ)

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