Canadian Solar Inc. (NASDAQ:CSIQ) Given Consensus Rating of “Hold” by Brokerages

Canadian Solar Inc. (NASDAQ:CSIQ) has received an average rating of “Hold” from the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $18.04.

Several equities analysts have issued reports on CSIQ shares. StockNews.com lowered Canadian Solar from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. The Goldman Sachs Group lowered shares of Canadian Solar from a “neutral” rating to a “sell” rating and cut their target price for the stock from $14.00 to $11.00 in a research note on Tuesday, December 17th. Wells Fargo & Company decreased their price target on shares of Canadian Solar from $13.00 to $10.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. Jefferies Financial Group started coverage on shares of Canadian Solar in a research report on Friday, November 22nd. They set a “buy” rating and a $14.15 price objective on the stock. Finally, Mizuho started coverage on Canadian Solar in a research report on Friday, December 13th. They issued an “outperform” rating and a $20.00 target price for the company.

Canadian Solar Stock Performance

Shares of CSIQ opened at $10.15 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. The firm’s fifty day simple moving average is $10.48 and its two-hundred day simple moving average is $12.15. Canadian Solar has a 12 month low of $9.19 and a 12 month high of $21.05. The stock has a market capitalization of $671.51 million, a P/E ratio of -84.58, a price-to-earnings-growth ratio of 0.74 and a beta of 1.34.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Shah Capital Management lifted its stake in Canadian Solar by 825.6% during the 4th quarter. Shah Capital Management now owns 1,745,546 shares of the solar energy provider’s stock valued at $19,410,000 after acquiring an additional 1,556,964 shares in the last quarter. Barclays PLC raised its holdings in shares of Canadian Solar by 494.4% in the third quarter. Barclays PLC now owns 115,328 shares of the solar energy provider’s stock valued at $1,932,000 after purchasing an additional 95,924 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Canadian Solar by 101.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 113,461 shares of the solar energy provider’s stock valued at $1,902,000 after purchasing an additional 57,246 shares in the last quarter. Waterfront Wealth Inc. boosted its holdings in Canadian Solar by 16.9% during the fourth quarter. Waterfront Wealth Inc. now owns 185,175 shares of the solar energy provider’s stock worth $2,059,000 after purchasing an additional 26,778 shares during the last quarter. Finally, Greenwoods Asset Management Hong Kong Ltd. bought a new stake in Canadian Solar in the 4th quarter worth about $7,738,000. 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.