Canadian Solar (NASDAQ:CSIQ) Hits New 1-Year Low at $28.05

Shares of Canadian Solar Inc. (NASDAQ:CSIQ) hit a new 52-week low during trading on Thursday . The company traded as low as $28.05 and last traded at $28.10, with a volume of 58550 shares changing hands. The stock had previously closed at $29.72.

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company assumed coverage on shares of Canadian Solar in a research note on Monday, November 22nd. They issued an “equal weight” rating and a $44.00 price target on the stock. Citigroup decreased their target price on Canadian Solar from $53.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, December 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $45.57.

The company has a current ratio of 1.19, a quick ratio of 0.90 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $1.70 billion, a P/E ratio of 24.15 and a beta of 1.47. The company has a 50 day simple moving average of $33.96 and a two-hundred day simple moving average of $36.56.

Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Thursday, November 18th. The solar energy provider reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.24. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.34 billion. Canadian Solar had a return on equity of 3.55% and a net margin of 1.59%. The company’s quarterly revenue was up 34.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 EPS. On average, sell-side analysts expect that Canadian Solar Inc. will post 1.27 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC purchased a new stake in Canadian Solar during the 2nd quarter valued at $29,000. Koshinski Asset Management Inc. purchased a new stake in Canadian Solar in the third quarter worth $56,000. Edmond DE Rothschild Holding S.A. increased its stake in Canadian Solar by 706.0% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 2,015 shares of the solar energy provider’s stock worth $90,000 after purchasing an additional 1,765 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in Canadian Solar in the second quarter worth $93,000. Finally, Exchange Traded Concepts LLC increased its stake in shares of Canadian Solar by 36.6% during the third quarter. Exchange Traded Concepts LLC now owns 2,454 shares of the solar energy provider’s stock valued at $85,000 after buying an additional 658 shares during the period. Institutional investors own 42.42% of the company’s stock.

Canadian Solar Company Profile (NASDAQ:CSIQ)

Canadian Solar, Inc engages in the manufacture of solar photovoltaic modules and provides solar energy solutions. It operates through the Module and System Solutions (MSS) and Energy segments. The MSS segment involves in the design, development, manufacture, and sales of solar power products and solar system kits, and operation and maintenance services.

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