Canadian Solar (NASDAQ:CSIQ) PT Lowered to $20.00

Canadian Solar (NASDAQ:CSIQ) had its price objective decreased by Roth Mkm from $25.00 to $20.00 in a research report released on Monday, Benzinga reports. Roth Mkm currently has a buy rating on the solar energy provider’s stock.

CSIQ has been the subject of several other reports. Glj Research lifted their price objective on Canadian Solar from $9.10 to $12.28 and gave the stock a sell rating in a report on Tuesday, July 30th. StockNews.com lowered shares of Canadian Solar from a hold rating to a sell rating in a research note on Wednesday, July 31st. Oppenheimer decreased their price objective on shares of Canadian Solar from $43.00 to $27.00 and set an outperform rating for the company in a report on Friday, August 23rd. The Goldman Sachs Group dropped their target price on shares of Canadian Solar from $18.00 to $16.00 and set a neutral rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. boosted their target price 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. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and an average price target of $23.33.

Canadian Solar Trading Up 0.9 %

NASDAQ:CSIQ opened at $12.51 on Monday. The stock has a market cap of $827.65 million, a price-to-earnings ratio of 4.34, a PEG ratio of 0.30 and a beta of 1.29. The company has a quick ratio of 0.79, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The company’s 50 day moving average price is $15.08 and its 200-day moving average price is $17.25. Canadian Solar has a 52 week low of $12.18 and a 52 week high of $28.72.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings data on Thursday, August 22nd. The solar energy provider reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.03. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Canadian Solar had a return on equity of 5.61% and a net margin of 2.80%. The firm’s quarterly revenue was down 30.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.39 EPS. On average, equities research analysts forecast that Canadian Solar will post 2.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new stake in shares of Canadian Solar in the 2nd quarter worth $31,000. Daiwa Securities Group Inc. increased its position in Canadian Solar by 72.1% in the first quarter. Daiwa Securities Group Inc. now owns 7,400 shares of the solar energy provider’s stock worth $146,000 after buying an additional 3,100 shares in the last quarter. Private Advisor Group LLC purchased a new stake in Canadian Solar in the fourth quarter worth about $201,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Canadian Solar by 43.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 15,733 shares of the solar energy provider’s stock worth $232,000 after buying an additional 4,739 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Canadian Solar by 27.6% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 17,435 shares of the solar energy provider’s stock valued at $257,000 after buying an additional 3,768 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.