Canadian Solar Inc. (NASDAQ:CSIQ – Get Free Report) was the target of a significant drop in short interest in July. As of July 31st, there was short interest totalling 5,790,000 shares, a drop of 11.6% from the July 15th total of 6,550,000 shares. Currently, 12.2% of the company’s stock are sold short. Based on an average daily trading volume, of 1,680,000 shares, the days-to-cover ratio is presently 3.4 days.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on CSIQ shares. Roth Mkm restated a “buy” rating and set a $25.00 price objective on shares of Canadian Solar in a research note on Wednesday, May 22nd. UBS Group reduced their price objective 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 cut Canadian Solar from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Glj Research raised their target price on Canadian Solar from $9.10 to $12.28 and gave the company a “sell” rating in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. raised 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 analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $27.03.
Get Our Latest Stock Analysis on Canadian Solar
Hedge Funds Weigh In On Canadian Solar
Canadian Solar Price Performance
NASDAQ:CSIQ traded up $0.11 during mid-day trading on Monday, reaching $14.86. 846,014 shares of the stock were exchanged, compared to its average volume of 1,517,769. The business has a fifty day moving average price of $15.68 and a 200 day moving average price of $17.67. The firm has a market capitalization of $983.12 million, a PE ratio of 5.16, a PEG ratio of 0.30 and a beta of 1.29. Canadian Solar has a 1-year low of $13.04 and a 1-year high of $31.21. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.53.
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.
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