Shares of Canadian Solar Inc. (NASDAQ:CSIQ) have been assigned an average rating of “Hold” from the thirteen analysts that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $18.71.
Several research analysts have recently weighed in on the company. Goldman Sachs Group assumed coverage on Canadian Solar in a research report on Tuesday, January 9th. They issued a “neutral” rating and a $19.00 price objective for the company. Zacks Investment Research raised Canadian Solar from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Monday, November 13th. B. Riley set a $15.00 price objective on Canadian Solar and gave the stock a “hold” rating in a research report on Monday, December 11th. BidaskClub lowered Canadian Solar from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Cowen reissued a “hold” rating and issued a $17.00 price objective on shares of Canadian Solar in a research report on Sunday, October 22nd.
Shares of Canadian Solar (CSIQ) traded down $0.06 on Friday, reaching $15.80. The company’s stock had a trading volume of 669,800 shares, compared to its average volume of 901,338. The firm has a market cap of $909.09, a P/E ratio of 38.54, a PEG ratio of 0.33 and a beta of 3.10. Canadian Solar has a 52-week low of $10.86 and a 52-week high of $19.09. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.95 and a quick ratio of 0.88.
A number of institutional investors have recently modified their holdings of CSIQ. Schwab Charles Investment Management Inc. increased its position in Canadian Solar by 83.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 49,323 shares of the solar energy provider’s stock valued at $786,000 after buying an additional 22,399 shares in the last quarter. First Trust Advisors LP boosted its stake in Canadian Solar by 16.6% during the 2nd quarter. First Trust Advisors LP now owns 60,070 shares of the solar energy provider’s stock valued at $956,000 after purchasing an additional 8,567 shares during the last quarter. Legal & General Group Plc boosted its stake in Canadian Solar by 111.1% during 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. Quantitative Investment Management LLC acquired a new position in Canadian Solar during the 2nd quarter valued at about $2,803,000. Finally, Van ECK Associates Corp boosted its stake in Canadian Solar by 2.7% during the 2nd quarter. Van ECK Associates Corp now owns 84,436 shares of the solar energy provider’s stock valued at $1,344,000 after purchasing an additional 2,217 shares during the last quarter. 41.83% of the stock is owned by institutional investors and hedge funds.
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About Canadian Solar
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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