Canadian Solar (NASDAQ:CSIQ) Price Target Increased to $12.28 by Analysts at Glj Research

Canadian Solar (NASDAQ:CSIQ) had its price objective lifted by Glj Research from $9.10 to $12.28 in a research report sent to investors on Tuesday morning, Benzinga reports. Glj Research currently has a sell rating on the solar energy provider’s stock.

Other research analysts also recently issued research reports about the company. UBS Group dropped 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. StockNews.com upgraded Canadian Solar from a sell rating to a hold rating in a research note on Thursday, April 11th. Roth Mkm reiterated a buy rating and issued a $25.00 target price on shares of Canadian Solar in a research note on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. lifted their target price on Canadian Solar from $17.00 to $20.00 and gave the company an underweight rating in a research note on Tuesday, July 16th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $27.03.

Canadian Solar Trading Down 7.4 %

NASDAQ:CSIQ opened at $14.49 on Tuesday. The stock’s 50 day moving average price is $16.71 and its 200 day moving average price is $18.34. The company has a market capitalization of $958.66 million, a PE ratio of 5.03, a P/E/G ratio of 0.32 and a beta of 1.29. The company has a quick ratio of 0.79, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. Canadian Solar has a 52-week low of $13.80 and a 52-week high of $35.50.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings results on Thursday, May 9th. The solar energy provider reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.20. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.35 billion. Canadian Solar had a return on equity of 5.61% and a net margin of 2.80%. The firm’s quarterly revenue was down 21.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.19 EPS. On average, research analysts anticipate that Canadian Solar will post 2.07 EPS for the current year.

Institutional Trading of Canadian Solar

A number of institutional investors have recently modified their holdings of the business. Rhumbline Advisers boosted its stake in shares of Canadian Solar by 34.6% in the second quarter. Rhumbline Advisers now owns 19,459 shares of the solar energy provider’s stock valued at $287,000 after buying an additional 5,003 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Canadian Solar by 27.6% in the second 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 in the last quarter. Clear Harbor Asset Management LLC raised its holdings in Canadian Solar by 46.5% during the second quarter. Clear Harbor Asset Management LLC now owns 27,620 shares of the solar energy provider’s stock worth $407,000 after purchasing an additional 8,770 shares during the last quarter. D. Scott Neal Inc. acquired a new position in Canadian Solar during the second quarter worth $3,898,000. Finally, SG Americas Securities LLC raised its holdings in Canadian Solar by 337.9% during the second quarter. SG Americas Securities LLC now owns 32,809 shares of the solar energy provider’s stock worth $484,000 after purchasing an additional 25,317 shares during the last quarter. 52.36% of the stock is currently owned by hedge funds and other institutional investors.

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.