Canadian Solar Inc. (NASDAQ:CSIQ) Given Average Recommendation of “Hold” by Analysts

Shares of Canadian Solar Inc. (NASDAQ:CSIQ) have been assigned a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $18.04.

Several brokerages have recently weighed in on CSIQ. Mizuho began coverage on Canadian Solar in a report on Friday, December 13th. They set an “outperform” rating and a $20.00 price target for the company. Jefferies Financial Group began coverage on Canadian Solar in a report on Friday, November 22nd. They set a “buy” rating and a $14.15 price target for the company. The Goldman Sachs Group downgraded Canadian Solar from a “neutral” rating to a “sell” rating and reduced their price target for the company from $14.00 to $11.00 in a report on Tuesday, December 17th. StockNews.com downgraded Canadian Solar from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company reduced their price target on Canadian Solar from $13.00 to $10.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th.

Canadian Solar Stock Performance

Shares of Canadian Solar stock opened at $9.43 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $623.88 million, a P/E ratio of -78.58, a P/E/G ratio of 0.74 and a beta of 1.34. The business has a fifty day simple moving average of $10.69 and a two-hundred day simple moving average of $12.22. Canadian Solar has a 12 month low of $9.19 and a 12 month high of $21.05.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp boosted its position in Canadian Solar by 6.9% in the fourth quarter. Mackenzie Financial Corp now owns 5,523,565 shares of the solar energy provider’s stock worth $61,422,000 after purchasing an additional 357,900 shares during the last quarter. Vanguard Group Inc. boosted its position in Canadian Solar by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 2,027,302 shares of the solar energy provider’s stock worth $22,544,000 after purchasing an additional 23,355 shares during the last quarter. Shah Capital Management boosted its position in Canadian Solar by 825.6% in the fourth quarter. Shah Capital Management now owns 1,745,546 shares of the solar energy provider’s stock worth $19,410,000 after purchasing an additional 1,556,964 shares during the last quarter. IvyRock Asset Management HK Ltd purchased a new position in Canadian Solar in the fourth quarter worth about $15,440,000. Finally, Greenwoods Asset Management Hong Kong Ltd. purchased a new position in Canadian Solar in the fourth quarter worth about $7,738,000. 52.36% of the stock is owned by hedge funds and other institutional investors.

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.