Several other analysts also recently weighed in on CSIQ. The Goldman Sachs Group downgraded shares of Canadian Solar from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $43.00 to $38.00 in a research report on Wednesday, September 7th. StockNews.com initiated coverage on shares of Canadian Solar in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. reduced their price target on shares of Canadian Solar from $48.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, October 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $41.67.
Canadian Solar Stock Up 2.7 %
Shares of NASDAQ:CSIQ opened at $37.01 on Wednesday. The company has a market capitalization of $2.37 billion, a PE ratio of 13.61 and a beta of 1.28. The company has a current ratio of 1.20, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48. Canadian Solar has a twelve month low of $22.15 and a twelve month high of $47.69. The firm has a 50 day simple moving average of $34.81 and a 200-day simple moving average of $34.75.
Hedge Funds Weigh In On Canadian Solar
Institutional investors have recently bought and sold shares of the company. Banque Cantonale Vaudoise increased its stake in Canadian Solar by 5.6% in the 2nd quarter. Banque Cantonale Vaudoise now owns 7,168 shares of the solar energy provider’s stock valued at $223,000 after buying an additional 380 shares during the period. abrdn plc grew its stake in shares of Canadian Solar by 6.9% during the 2nd quarter. abrdn plc now owns 44,022 shares of the solar energy provider’s stock worth $1,371,000 after purchasing an additional 2,850 shares during the period. Scotia Capital Inc. grew its stake in shares of Canadian Solar by 5.7% during the 2nd quarter. Scotia Capital Inc. now owns 32,450 shares of the solar energy provider’s stock worth $1,011,000 after purchasing an additional 1,738 shares during the period. McGowan Group Asset Management Inc. acquired a new position in shares of Canadian Solar during the 1st quarter worth $208,000. Finally, Duality Advisers LP acquired a new position in shares of Canadian Solar during the 1st quarter worth $358,000. 50.21% of the stock is owned by institutional investors and hedge funds.
About Canadian Solar
Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power and battery storage products in Asia, the Americas, Europe, and internationally. The company operates through two segments, Canadian Solar Inc (CSI) Solar and Global Energy.
- Get a free copy of the StockNews.com research report on Canadian Solar (CSIQ)
- Three CBD Stocks to Dominate a Budding Industry
- Institutional Support for Analog Devices Remains High
- Microsoft Shares: Is it Time to Back Up the Truck?
- Is the 60/40 Portfolio Mix Still in Vogue?
- Salesforce Cuts Labor, Shows Strong Earnings Despite Challenges
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.