Canadian Solar Target of Unusually Large Options Trading (CSIQ)

Canadian Solar Inc. (NASDAQ:CSIQ) was the target of some unusual options trading activity on Friday. Investors purchased 9,141 call options on the stock. This represents an increase of approximately Infinity compared to the average volume of 0 call options.

Several brokerages have recently issued reports on CSIQ. Cowen and Company reiterated a “market perform” rating and issued a $17.00 target price (up previously from $16.00) on shares of Canadian Solar in a research report on Tuesday, August 15th. B. Riley reiterated a “neutral” rating on shares of Canadian Solar in a research report on Wednesday, November 1st. Zacks Investment Research lowered shares of Canadian Solar from a “buy” rating to a “hold” rating in a research report on Tuesday. FBR & Co reiterated a “neutral” rating and issued a $15.00 target price (up previously from $13.00) on shares of Canadian Solar in a research report on Tuesday, August 15th. Finally, Roth Capital raised shares of Canadian Solar from a “neutral” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Friday, November 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $19.12.

Several large investors have recently modified their holdings of CSIQ. Pacad Investment Ltd. purchased a new stake in shares of Canadian Solar during the 2nd quarter worth approximately $115,000. Legal & General Group Plc raised its position in Canadian Solar by 111.1% in the 2nd quarter. Legal & General Group Plc now owns 7,789 shares of the solar energy provider’s stock valued at $124,000 after purchasing an additional 4,100 shares during the last quarter. Paloma Partners Management Co purchased a new stake in Canadian Solar in the 1st quarter valued at $303,000. Columbus Circle Investors purchased a new stake in Canadian Solar in the 2nd quarter valued at $318,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Canadian Solar in the 2nd quarter valued at $323,000. Institutional investors and hedge funds own 40.01% of the company’s stock.

Canadian Solar (CSIQ) opened at $17.45 on Wednesday. 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 twelve month low of $10.36 and a twelve month high of $19.09. The company has a market cap of $1,010.00, a P/E ratio of 84.69, a price-to-earnings-growth ratio of 0.87 and a beta of 3.12.

Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings results on Thursday, November 9th. The solar energy provider reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. The company had revenue of $912.20 million during the quarter, compared to analysts’ expectations of $812.37 million. Canadian Solar had a net margin of 0.84% and a return on equity of 1.32%. The firm’s revenue was up 38.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.27 EPS. equities analysts forecast that Canadian Solar will post 1.11 earnings per share for the current fiscal year.

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Canadian Solar Company Profile

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.

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