Canadian Solar Inc. (NASDAQ:CSIQ – Get Free Report) was the recipient of unusually large options trading on Monday. Investors bought 15,417 call options on the company. This represents an increase of approximately 233% compared to the average volume of 4,632 call options.
Canadian Solar Stock Up 17.6 %
NASDAQ:CSIQ traded up $2.36 during trading hours on Monday, hitting $15.77. 4,462,260 shares of the stock traded hands, compared to its average volume of 1,644,643. The firm has a 50 day moving average price of $13.77 and a 200 day moving average price of $15.36. The company has a current ratio of 1.04, a quick ratio of 0.82 and a debt-to-equity ratio of 0.53. Canadian Solar has a fifty-two week low of $11.41 and a fifty-two week high of $26.85. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 4.93, a PEG ratio of 4.92 and a beta of 1.31.
Canadian Solar (NASDAQ:CSIQ – Get Free Report) last announced its quarterly earnings results on Thursday, August 22nd. The solar energy provider reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Canadian Solar had a return on equity of 0.99% and a net margin of 0.56%. The firm’s quarterly revenue was down 30.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.39 EPS. Equities research analysts anticipate that Canadian Solar will post 0.12 earnings per share for the current year.
Institutional Inflows and Outflows
Analyst Upgrades and Downgrades
A number of research firms have commented on CSIQ. The Goldman Sachs Group reduced their target price on Canadian Solar from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, August 26th. Citigroup downgraded Canadian Solar from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $19.00 to $11.00 in a report on Tuesday, October 22nd. Glj Research increased their price objective on Canadian Solar from $9.10 to $12.28 and gave the stock a “sell” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. raised their price target on Canadian Solar from $17.00 to $20.00 and gave the company an “underweight” rating in a report on Tuesday, July 16th. Finally, Roth Mkm dropped their price target on Canadian Solar from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Four analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $22.03.
Read Our Latest Analysis on Canadian Solar
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.
Featured Articles
- Five stocks we like better than Canadian Solar
- Insider Trading – What You Need to Know
- Inflation Risk Rising, Key Trades Investors Are Making Now
- What Makes a Stock a Good Dividend Stock?
- 3 Oil Stocks to Watch Before Earnings Come Out
- What Does a Gap Up Mean in Stocks? How to Play the Gap
- Is American Express Stock’s Sell-the-News Reaction a Buying Opp?
Receive News & Ratings for Canadian Solar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Solar and related companies with MarketBeat.com's FREE daily email newsletter.