Other research analysts have also recently issued research reports about the stock. The Goldman Sachs Group cut shares of Canadian Solar from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $43.00 to $38.00 in a report on Wednesday, September 7th. StockNews.com started coverage on shares of Canadian Solar in a report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. reduced their target price on shares of Canadian Solar from $48.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, October 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $41.67.
Canadian Solar Stock Up 2.7 %
Shares of CSIQ stock opened at $37.01 on Wednesday. The firm has a fifty day moving average of $34.81 and a 200-day moving average of $34.75. The company has a quick ratio of 0.86, a current ratio of 1.20 and a debt-to-equity ratio of 0.48. Canadian Solar has a 12-month low of $22.15 and a 12-month high of $47.69. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 13.61 and a beta of 1.28.
Institutional Investors Weigh In On Canadian Solar
Hedge funds have recently made changes to their positions in the stock. Financial Gravity Asset Management Inc. acquired a new stake in shares of Canadian Solar in the 3rd quarter valued at approximately $3,605,000. FinTrust Capital Advisors LLC acquired a new stake in shares of Canadian Solar in the 3rd quarter valued at approximately $27,000. Great West Life Assurance Co. Can boosted its stake in shares of Canadian Solar by 115.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 1,098 shares of the solar energy provider’s stock valued at $41,000 after purchasing an additional 589 shares in the last quarter. Toroso Investments LLC boosted its position in Canadian Solar by 24.2% during the 3rd quarter. Toroso Investments LLC now owns 2,727 shares of the solar energy provider’s stock worth $102,000 after buying an additional 531 shares during the period. Finally, Credit Agricole S A acquired a new stake in Canadian Solar during the 3rd quarter worth approximately $149,000. 50.21% of the stock is currently owned by institutional investors and hedge funds.
Canadian Solar Company Profile
Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power and battery storage products in Asia, the Americas, Europe, and internationally. The company operates through two segments, Canadian Solar Inc (CSI) Solar and Global Energy.
- Get a free copy of the StockNews.com research report on Canadian Solar (CSIQ)
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