Several other research firms have also weighed in on CSIQ. StockNews.com began coverage on shares of Canadian Solar in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. The Goldman Sachs Group lowered shares of Canadian Solar from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $43.00 to $38.00 in a research note on Wednesday, September 7th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Canadian Solar from $48.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, October 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $41.67.
Canadian Solar Stock Up 2.7 %
Shares of NASDAQ CSIQ opened at $37.01 on Wednesday. The company has a market capitalization of $2.37 billion, a P/E ratio of 13.61 and a beta of 1.28. Canadian Solar has a 52-week low of $22.15 and a 52-week high of $47.69. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.20. The company’s 50 day moving average price is $34.81 and its 200-day moving average price is $34.75.
Institutional Trading of Canadian Solar
Hedge funds and other institutional investors have recently bought and sold shares of the business. Banque Cantonale Vaudoise increased its stake in Canadian Solar by 5.6% during the 2nd quarter. Banque Cantonale Vaudoise now owns 7,168 shares of the solar energy provider’s stock valued at $223,000 after purchasing an additional 380 shares in the last quarter. abrdn plc increased its stake in Canadian Solar by 6.9% during the 2nd quarter. abrdn plc now owns 44,022 shares of the solar energy provider’s stock valued at $1,371,000 after purchasing an additional 2,850 shares in the last quarter. Scotia Capital Inc. increased its stake in Canadian Solar by 5.7% during the 2nd quarter. Scotia Capital Inc. now owns 32,450 shares of the solar energy provider’s stock valued at $1,011,000 after purchasing an additional 1,738 shares in the last quarter. McGowan Group Asset Management Inc. purchased a new position in Canadian Solar during the 1st quarter worth $208,000. Finally, Duality Advisers LP purchased a new position in Canadian Solar during the 1st quarter worth $358,000. Institutional investors own 50.21% of the company’s stock.
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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