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

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

A number of other equities analysts also recently commented on CSIQ. Oppenheimer reduced their target price on shares of Canadian Solar from $43.00 to $27.00 and set an outperform rating on the stock in a research note on Friday, August 23rd. JPMorgan Chase & Co. upped their price objective on Canadian Solar from $17.00 to $20.00 and gave the company an underweight rating in a report on Tuesday, July 16th. StockNews.com lowered shares of Canadian Solar from a hold rating to a sell rating in a research note on Wednesday, July 31st. UBS Group decreased their price target on Canadian Solar from $38.00 to $35.00 and set a buy rating on the stock in a research note on Wednesday, June 12th. Finally, Glj Research lifted their price objective on Canadian Solar from $9.10 to $12.28 and gave the company a sell rating in a research note on Tuesday, July 30th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Canadian Solar currently has a consensus rating of Hold and an average price target of $23.33.

Canadian Solar Price Performance

CSIQ stock opened at $12.40 on Monday. Canadian Solar has a 1 year low of $12.18 and a 1 year high of $28.72. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 0.79. The firm has a market capitalization of $820.37 million, a PE ratio of 4.31, a price-to-earnings-growth ratio of 0.30 and a beta of 1.29. The business has a 50 day simple moving average of $15.15 and a 200-day simple moving average of $17.28.

Canadian Solar (NASDAQ:CSIQ) last issued its earnings results 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. Canadian Solar had a return on equity of 5.61% and a net margin of 2.80%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the prior year, the business earned $2.39 EPS. The firm’s quarterly revenue was down 30.8% on a year-over-year basis. Equities research analysts anticipate that Canadian Solar will post 2.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Canadian Solar

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP purchased a new stake in Canadian Solar during the 2nd quarter valued at approximately $31,000. Daiwa Securities Group Inc. raised its stake in shares of Canadian Solar by 72.1% during the first quarter. Daiwa Securities Group Inc. now owns 7,400 shares of the solar energy provider’s stock worth $146,000 after purchasing an additional 3,100 shares during the last quarter. Private Advisor Group LLC acquired a new stake in shares of Canadian Solar during the fourth quarter worth $201,000. Northwestern Mutual Wealth Management Co. grew its position in Canadian Solar by 43.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 15,733 shares of the solar energy provider’s stock valued at $232,000 after buying an additional 4,739 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in 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 valued at $257,000 after buying an additional 3,768 shares during the period. Hedge funds and other institutional investors own 52.36% of the company’s stock.

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.