Leslie Li Hsien Chang Sells 1,767 Shares of Canadian Solar (NASDAQ:CSIQ) Stock

Canadian Solar Inc. (NASDAQ:CSIQ) Director Leslie Li Hsien Chang sold 1,767 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $19.45, for a total value of $34,368.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Canadian Solar Price Performance

Canadian Solar stock opened at $19.02 on Friday. Canadian Solar Inc. has a 12 month low of $9.41 and a 12 month high of $34.59. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.06 and a quick ratio of 0.81. The business has a 50 day simple moving average of $15.34 and a 200-day simple moving average of $19.84. The stock has a market capitalization of $1.29 billion, a PE ratio of -7.55 and a beta of 1.44.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings results on Friday, May 15th. The solar energy provider reported ($0.71) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.35. Canadian Solar had a negative return on equity of 4.20% and a negative net margin of 1.87%.The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $950.43 million. During the same quarter in the prior year, the business earned ($1.07) earnings per share. The company’s quarterly revenue was down 9.9% compared to the same quarter last year. Equities analysts predict that Canadian Solar Inc. will post -1.16 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its position in Canadian Solar by 206.6% in the third quarter. JPMorgan Chase & Co. now owns 571,893 shares of the solar energy provider’s stock worth $7,457,000 after acquiring an additional 385,355 shares in the last quarter. UBS Group AG increased its position in shares of Canadian Solar by 71.3% in the fourth quarter. UBS Group AG now owns 399,963 shares of the solar energy provider’s stock valued at $9,507,000 after buying an additional 166,412 shares in the last quarter. Polunin Capital Partners Ltd purchased a new position in shares of Canadian Solar in the fourth quarter valued at $43,692,000. Hussman Strategic Advisors Inc. purchased a new position in shares of Canadian Solar in the fourth quarter valued at $2,995,000. Finally, GF Fund Management CO. LTD. purchased a new position in shares of Canadian Solar in the fourth quarter valued at $6,260,000. Hedge funds and other institutional investors own 52.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CSIQ shares. Freedom Capital cut Canadian Solar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Mizuho cut their price target on Canadian Solar from $19.00 to $15.00 and set a “neutral” rating for the company in a research note on Monday, March 23rd. Oppenheimer cut their price target on Canadian Solar from $38.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday, March 20th. Wall Street Zen upgraded Canadian Solar from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Canadian Solar in a research report on Friday, March 27th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $18.36.

About Canadian Solar

Canadian Solar Inc (NASDAQ: CSIQ) is a global renewable energy company that specializes in the design, development and manufacturing of solar photovoltaic (PV) modules and system solutions. Founded in 2001 and headquartered in Guelph, Ontario, the company has grown to become one of the world’s largest solar module suppliers. Canadian Solar offers a comprehensive portfolio of products, including mono- and multi-crystalline solar cells and modules, as well as advanced energy storage and system integration solutions tailored for residential, commercial and utility-scale applications.

In addition to manufacturing solar components, Canadian Solar provides end-to-end services encompassing project development, engineering, procurement and construction (EPC), as well as operations and maintenance.