Canadian Solar Inc. (CSIQ) Downgraded by Vetr Inc.

Vetr lowered shares of Canadian Solar Inc. (NASDAQ:CSIQ) from a hold rating to a sell rating in a research note published on Thursday. Vetr currently has $14.54 price target on the stock.

CSIQ has been the subject of several other reports. Zacks Investment Research downgraded shares of Canadian Solar from a buy rating to a hold rating in a research report on Friday, July 8th. Roth Capital set a $20.00 target price on shares of Canadian Solar and gave the company a buy rating in a research report on Sunday, August 21st. Cowen and Company downgraded shares of Canadian Solar from an outperform rating to a market perform rating and reduced their target price for the company from $20.00 to $13.00 in a research report on Friday, August 19th. Canaccord Genuity reissued a buy rating and set a $29.00 target price on shares of Canadian Solar in a research report on Wednesday, June 29th. Finally, FBR & Co reduced their target price on shares of Canadian Solar from $32.00 to $23.00 and set an outperform rating for the company in a research report on Friday, August 19th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. Canadian Solar presently has an average rating of Hold and an average price target of $23.07.

Canadian Solar (NASDAQ:CSIQ) opened at 14.70 on Thursday. Canadian Solar has a one year low of $11.72 and a one year high of $29.83. The stock has a 50 day moving average price of $13.44 and a 200 day moving average price of $15.46. The company has a market cap of $846.79 million, a PE ratio of 5.57 and a beta of 2.57.

Canadian Solar (NASDAQ:CSIQ) last released its earnings results on Thursday, August 18th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.31. The business had revenue of $805.90 million for the quarter, compared to analyst estimates of $735.82 million. Canadian Solar had a net margin of 4.45% and a return on equity of 19.71%. Canadian Solar’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 earnings per share. On average, equities analysts anticipate that Canadian Solar will post $1.56 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of the stock. Riverhead Capital Management LLC boosted its stake in Canadian Solar by 16.2% in the second quarter. Riverhead Capital Management LLC now owns 3,476 shares of the company’s stock valued at $239,000 after buying an additional 484 shares during the period. Stevens Capital Management LP bought a new stake in Canadian Solar during the second quarter valued at $164,000. Landscape Capital Management L.L.C. bought a new stake in Canadian Solar during the second quarter valued at $166,000. BlackRock Inc. boosted its stake in Canadian Solar by 55.2% in the second quarter. BlackRock Inc. now owns 11,970 shares of the company’s stock valued at $182,000 after buying an additional 4,256 shares during the period. Finally, Guinness Asset Management Ltd boosted its stake in Canadian Solar by 53.2% in the second quarter. Guinness Asset Management Ltd now owns 12,100 shares of the company’s stock valued at $183,000 after buying an additional 4,200 shares during the period. Hedge funds and other institutional investors own 34.51% of the company’s stock.

Canadian Solar Company Profile

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.

5 Day Chart for NASDAQ:CSIQ

To view Vetr’s full report, visit Vetr’s official website.

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