Canadian Solar Inc. (NASDAQ:CSIQ) Receives Average Recommendation of “Hold” from Brokerages

Shares of Canadian Solar Inc. (NASDAQ:CSIQ) have received a consensus rating of “Hold” from the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $18.04.

A number of analysts have recently weighed in on the stock. StockNews.com downgraded shares of Canadian Solar from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Mizuho assumed coverage on shares of Canadian Solar in a research report on Friday, December 13th. They issued an “outperform” rating and a $20.00 target price on the stock. The Goldman Sachs Group downgraded shares of Canadian Solar from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $14.00 to $11.00 in a research report on Tuesday, December 17th. Finally, Wells Fargo & Company reduced their price objective 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.

Canadian Solar Stock Down 1.9 %

NASDAQ:CSIQ opened at $9.96 on Friday. The firm’s 50-day moving average price is $10.43 and its 200-day moving average price is $12.13. The company has a market capitalization of $658.94 million, a PE ratio of -83.00, a P/E/G ratio of 0.74 and a beta of 1.34. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.06 and a quick ratio of 0.85. Canadian Solar has a 1-year low of $9.19 and a 1-year high of $21.05.

Institutional Trading of Canadian Solar

A number of institutional investors have recently made changes to their positions in the stock. Mackenzie Financial Corp boosted its holdings in shares of Canadian Solar by 6.9% during the 4th quarter. Mackenzie Financial Corp now owns 5,523,565 shares of the solar energy provider’s stock valued at $61,422,000 after acquiring an additional 357,900 shares during the last quarter. Shell Asset Management Co. boosted its holdings in shares of Canadian Solar by 11.4% during the 4th quarter. Shell Asset Management Co. now owns 40,499 shares of the solar energy provider’s stock valued at $450,000 after acquiring an additional 4,134 shares during the last quarter. Deutsche Bank AG purchased a new stake in shares of Canadian Solar during the 4th quarter valued at about $308,000. Bayesian Capital Management LP purchased a new stake in shares of Canadian Solar during the 4th quarter valued at about $331,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Canadian Solar by 32.0% during the 4th quarter. BNP Paribas Financial Markets now owns 323,238 shares of the solar energy provider’s stock valued at $3,594,000 after acquiring an additional 78,306 shares during the last quarter. Hedge funds and other institutional investors own 52.36% of the company’s stock.

Canadian Solar Company Profile

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.