StockNews.com Lowers Canadian Solar (NASDAQ:CSIQ) to Sell

StockNews.com downgraded shares of Canadian Solar (NASDAQ:CSIQ) from a hold rating to a sell rating in a research report report published on Wednesday.

Other equities research analysts have also recently issued research reports about the stock. Roth Mkm reaffirmed a buy rating and issued a $25.00 price objective on shares of Canadian Solar in a research note on Wednesday, May 22nd. UBS Group cut their price objective on shares of Canadian Solar from $38.00 to $35.00 and set a buy rating for the company in a research note on Wednesday, June 12th. JPMorgan Chase & Co. upped their price objective on shares of Canadian Solar from $17.00 to $20.00 and gave the company an underweight rating in a research note on Tuesday, July 16th. Finally, Glj Research upped their price target on shares of Canadian Solar from $9.10 to $12.28 and gave the company a sell rating in a report on Tuesday, July 30th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $27.03.

Canadian Solar Price Performance

CSIQ stock opened at $14.49 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 0.79. Canadian Solar has a one year low of $13.80 and a one year high of $35.50. The stock has a market cap of $958.66 million, a PE ratio of 5.03, a P/E/G ratio of 0.30 and a beta of 1.29. The firm has a 50 day simple moving average of $16.71 and a two-hundred day simple moving average of $18.31.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings results on Thursday, May 9th. The solar energy provider reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.20. Canadian Solar had a net margin of 2.80% and a return on equity of 5.61%. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the company earned $1.19 EPS. The business’s quarterly revenue was down 21.1% compared to the same quarter last year. On average, analysts predict that Canadian Solar will post 2.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. USCF Advisers LLC raised its holdings in Canadian Solar by 87.5% in the 4th quarter. USCF Advisers LLC now owns 1,500 shares of the solar energy provider’s stock worth $39,000 after purchasing an additional 700 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Canadian Solar by 72.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 7,400 shares of the solar energy provider’s stock worth $146,000 after acquiring an additional 3,100 shares in the last quarter. Private Advisor Group LLC bought a new position in shares of Canadian Solar in the 4th quarter worth about $201,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Canadian Solar by 27.6% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 17,435 shares of the solar energy provider’s stock worth $257,000 after acquiring an additional 3,768 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Canadian Solar by 34.6% in the 2nd quarter. Rhumbline Advisers now owns 19,459 shares of the solar energy provider’s stock worth $287,000 after acquiring an additional 5,003 shares in the last quarter. 52.36% of the stock is currently owned by institutional investors.

About Canadian Solar

Canadian Solar Inc, together with its subsidiaries, provides solar energy and battery energy storage products and solutions in in Asia, the Americas, Europe, and internationally. The company operates through two segments, CSI Solar and Recurrent Energy. The CSI Solar segment designs, develops, and manufactures solar ingots, wafers, cells, modules, and other solar power and battery storage products.