Canadian Solar (NASDAQ:CSIQ) Director Andrew Luen Cheung Wong Sells 1,752 Shares

Canadian Solar Inc. (NASDAQ:CSIQ) Director Andrew Luen Cheung Wong sold 1,752 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $16.33, for a total value of $28,610.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Canadian Solar Stock Performance

Shares of CSIQ opened at $18.10 on Friday. Canadian Solar Inc. has a one year low of $9.41 and a one year high of $34.59. The company has a 50-day moving average of $15.22 and a two-hundred day moving average of $20.05. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -7.18 and a beta of 1.44. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.06 and a quick ratio of 0.81.

Canadian Solar (NASDAQ:CSIQ) last released its earnings results on Friday, May 15th. The solar energy provider reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($1.06) by $0.35. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $950.43 million. Canadian Solar had a negative net margin of 1.87% and a negative return on equity of 4.20%. The firm’s quarterly revenue was down 9.9% compared to the same quarter last year. During the same period last year, the firm posted ($1.07) earnings per share. On average, equities research analysts expect that Canadian Solar Inc. will post -1.16 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on CSIQ shares. Freedom Capital lowered Canadian Solar from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Mizuho lowered their price target on Canadian Solar from $19.00 to $15.00 and set a “neutral” rating on the stock in a report on Monday, March 23rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Canadian Solar in a research note on Friday, March 27th. Roth Mkm decreased their price objective on Canadian Solar from $30.00 to $15.00 and set a “neutral” rating for the company in a research report on Monday, March 23rd. Finally, Oppenheimer lowered their target price on Canadian Solar from $38.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday, March 20th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $18.36.

Institutional Investors Weigh In On Canadian Solar

A number of hedge funds and other institutional investors have recently made changes to their positions in CSIQ. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Canadian Solar by 7.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,796 shares of the solar energy provider’s stock valued at $63,000 after buying an additional 312 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new position in Canadian Solar during the fourth quarter valued at approximately $48,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Canadian Solar by 43.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,880 shares of the solar energy provider’s stock valued at $164,000 after acquiring an additional 2,084 shares in the last quarter. LPL Financial LLC lifted its stake in Canadian Solar by 16.7% in the fourth quarter. LPL Financial LLC now owns 15,525 shares of the solar energy provider’s stock valued at $369,000 after acquiring an additional 2,219 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its stake in Canadian Solar by 38.6% in the second quarter. CANADA LIFE ASSURANCE Co now owns 8,094 shares of the solar energy provider’s stock valued at $89,000 after acquiring an additional 2,254 shares during the last quarter. 52.36% of the stock is owned by hedge funds and other institutional investors.

Canadian Solar Company Profile

Canadian Solar Inc (NASDAQ: CSIQ) is a global renewable energy company that specializes in the design, development and manufacturing of solar photovoltaic (PV) modules and system solutions. Founded in 2001 and headquartered in Guelph, Ontario, the company has grown to become one of the world’s largest solar module suppliers. Canadian Solar offers a comprehensive portfolio of products, including mono- and multi-crystalline solar cells and modules, as well as advanced energy storage and system integration solutions tailored for residential, commercial and utility-scale applications.

In addition to manufacturing solar components, Canadian Solar provides end-to-end services encompassing project development, engineering, procurement and construction (EPC), as well as operations and maintenance.