Canadian Solar (NASDAQ:CSIQ) Given “Buy” Rating at Roth Mkm

Roth Mkm reiterated their buy rating on shares of Canadian Solar (NASDAQ:CSIQ) in a research report report published on Wednesday morning, Benzinga reports. They currently have a $25.00 target price on the solar energy provider’s stock.

Several other equities analysts also recently commented on CSIQ. The Goldman Sachs Group dropped their target price on Canadian Solar from $28.00 to $24.00 and set a neutral rating for the company in a research report on Friday, March 15th. StockNews.com upgraded shares of Canadian Solar from a sell rating to a hold rating in a report on Thursday, April 11th. Daiwa Capital Markets started coverage on shares of Canadian Solar in a report on Monday, March 11th. They set a neutral rating and a $21.00 target price on the stock. Wells Fargo & Company decreased their price target on shares of Canadian Solar from $28.00 to $23.00 and set an equal weight rating for the company in a research report on Tuesday, March 19th. Finally, Citigroup cut their price target on shares of Canadian Solar from $26.00 to $24.00 and set a neutral rating on the stock in a report on Friday, March 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Canadian Solar has an average rating of Hold and a consensus target price of $29.00.

Canadian Solar Stock Up 3.1 %

CSIQ stock opened at $18.20 on Wednesday. The firm has a 50-day moving average price of $17.08 and a 200-day moving average price of $20.46. Canadian Solar has a 12 month low of $14.11 and a 12 month high of $45.29. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $1.20 billion, a P/E ratio of 6.32, a price-to-earnings-growth ratio of 0.34 and a beta of 1.29.

Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings data on Thursday, May 9th. The solar energy provider reported $0.19 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.20. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.35 billion. Canadian Solar had a net margin of 2.80% and a return on equity of 5.61%. The firm’s revenue was down 21.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.19 EPS. As a group, equities research analysts anticipate that Canadian Solar will post 2.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Canadian Solar

A number of hedge funds have recently bought and sold shares of the company. USCF Advisers LLC boosted its position in Canadian Solar by 87.5% during the fourth quarter. USCF Advisers LLC now owns 1,500 shares of the solar energy provider’s stock valued at $39,000 after acquiring an additional 700 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Canadian Solar by 72.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 7,400 shares of the solar energy provider’s stock valued at $146,000 after purchasing an additional 3,100 shares during the period. Private Advisor Group LLC bought a new stake in shares of Canadian Solar during the 4th quarter valued at about $201,000. Campbell & CO Investment Adviser LLC grew its stake in Canadian Solar by 51.3% during the third quarter. Campbell & CO Investment Adviser LLC now owns 8,447 shares of the solar energy provider’s stock worth $208,000 after purchasing an additional 2,865 shares during the period. Finally, Janney Montgomery Scott LLC increased its holdings in Canadian Solar by 9.2% in the first quarter. Janney Montgomery Scott LLC now owns 15,291 shares of the solar energy provider’s stock worth $302,000 after purchasing an additional 1,283 shares in the last quarter. Institutional investors own 52.36% of the company’s stock.

About Canadian Solar

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.