Insider Selling: Canadian Solar (NASDAQ:CSIQ) Director Sells $34,368.15 in Stock

Canadian Solar Inc. (NASDAQ:CSIQ) Director Leslie Li Hsien Chang sold 1,767 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $19.45, for a total value of $34,368.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Canadian Solar Trading Down 6.1%

NASDAQ:CSIQ opened at $19.02 on Friday. The stock has a fifty day moving average price of $15.34 and a two-hundred day moving average price of $19.84. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -7.55 and a beta of 1.44. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.81 and a current ratio of 1.06. Canadian Solar Inc. has a 1 year low of $9.41 and a 1 year high of $34.59.

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

Wall Street Analyst Weigh In

CSIQ has been the subject of a number of research analyst reports. Oppenheimer dropped their price target on Canadian Solar from $38.00 to $19.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Wells Fargo & Company dropped their price target on Canadian Solar from $23.00 to $17.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Weiss Ratings restated a “sell (d+)” rating on shares of Canadian Solar in a research report on Friday, March 27th. Freedom Capital cut Canadian Solar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Finally, Mizuho dropped their price target on Canadian Solar from $19.00 to $15.00 and set a “neutral” rating for the company in a research report on Monday, March 23rd. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $18.36.

Institutional Trading of Canadian Solar

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in shares of Canadian Solar by 206.6% during the third quarter. JPMorgan Chase & Co. now owns 571,893 shares of the solar energy provider’s stock valued at $7,457,000 after acquiring an additional 385,355 shares during the last quarter. UBS Group AG boosted its stake in shares of Canadian Solar by 71.3% during the fourth quarter. UBS Group AG now owns 399,963 shares of the solar energy provider’s stock valued at $9,507,000 after acquiring an additional 166,412 shares during the last quarter. Polunin Capital Partners Ltd acquired a new stake in shares of Canadian Solar during the fourth quarter valued at $43,692,000. Hussman Strategic Advisors Inc. acquired a new stake in shares of Canadian Solar during the fourth quarter valued at $2,995,000. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Canadian Solar during the fourth quarter valued at $6,260,000. Institutional investors and hedge funds own 52.36% of the company’s stock.

About Canadian Solar

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.