Brokerages Set Canadian Solar Inc. (NASDAQ:CSIQ) PT at $19.36

Canadian Solar Inc. (NASDAQ:CSIQ) has been assigned an average rating of “Hold” from the thirteen analysts that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $19.3640.

CSIQ has been the topic of several recent research reports. Freedom Capital lowered shares of Canadian Solar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Citigroup raised shares of Canadian Solar from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $11.00 to $18.00 in a research note on Wednesday, July 22nd. Wall Street Zen upgraded shares of Canadian Solar from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. Finally, Mizuho raised their price objective on shares of Canadian Solar from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, June 15th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CSIQ. Deutsche Bank AG acquired a new position in Canadian Solar during the second quarter valued at approximately $722,850,000. The Manufacturers Life Insurance Company bought a new stake in Canadian Solar in the second quarter valued at approximately $631,683,000. UBS Group AG raised its holdings in Canadian Solar by 71.3% in the fourth quarter. UBS Group AG now owns 399,963 shares of the solar energy provider’s stock worth $9,507,000 after purchasing an additional 166,412 shares during the period. Hsbc Holdings PLC raised its holdings in Canadian Solar by 930.3% in the first quarter. Hsbc Holdings PLC now owns 120,450 shares of the solar energy provider’s stock worth $1,668,000 after purchasing an additional 108,759 shares during the period. Finally, Hussman Strategic Advisors Inc. bought a new position in shares of Canadian Solar during the fourth quarter worth $2,995,000. 52.36% of the stock is currently owned by institutional investors.

Canadian Solar Stock Performance

Shares of NASDAQ:CSIQ opened at $14.28 on Friday. The stock has a market capitalization of $969.61 million, a P/E ratio of -5.67 and a beta of 1.52. Canadian Solar has a 1-year low of $9.41 and a 1-year high of $34.59. The company has a current ratio of 1.06, a quick ratio of 0.81 and a debt-to-equity ratio of 0.99. The business has a 50-day moving average price of $15.10 and a two-hundred day moving average price of $16.18.

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.