2 weeks Ago By ABMN Staff
Canadian Solar Inc. ( NASDAQ:CSIQ – Get Free Report ) shares were up 4.8% during trading on Friday .
The company traded as high as $15.68 and last traded at $15.61.
Approximately 198,469 shares traded hands during trading, a decline of 87% from the average daily volume of 1,542,117 shares. The stock had previously closed at $14.90.
Analysts Set New Price Targets A number of research analysts have recently issued reports on the company. Glj Research boosted their price objective on Canadian Solar from $9.10 to $12.
28 and gave the company a “sell” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group reduced their price target on shares of Canadian Solar from $18.00 to $16.
00 and set a “neutral” rating for the company in a research report on Monday, August 26th. Roth Mkm reduced their price objective on shares of Canadian Solar from $25.00 to $20.
00 and set a “buy” rating for the company in a report on Monday, August 26th. JPMorgan Chase & Co. upped their target price on shares of Canadian Solar from $17.
00 to $20.00 and gave the stock an “underweight” rating in a report on Tuesday, July 16th. Finally, StockNews.
com cut shares of Canadian Solar from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.
com, the company has a consensus rating of “Hold” and a consensus target price of $23.33. View Our Latest Report on Canadian Solar Canadian Solar Stock Performance Canadian Solar ( NASDAQ:CSIQ – Get Free Report ) last issued its quarterly earnings results on Thursday, August 22nd.
The solar energy provider reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.
03. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.
58 billion. Canadian Solar had a return on equity of 0.99% and a net margin of 0.
56%. Canadian Solar’s quarterly revenue was down 30.8% compared to the same quarter last year.
During the same period last year, the company posted $2.39 earnings per share. Analysts expect that Canadian Solar Inc.
will post 0.12 earnings per share for the current year. Institutional Trading of Canadian Solar Large investors have recently added to or reduced their stakes in the stock.
Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Canadian Solar by 41.5% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 108,666 shares of the solar energy provider’s stock worth $1,603,000 after purchasing an additional 31,860 shares during the last quarter.
Sanctuary Advisors LLC bought a new stake in shares of Canadian Solar in the second quarter valued at $343,000. Quarry LP purchased a new position in shares of Canadian Solar during the 2nd quarter valued at $31,000. Northwestern Mutual Wealth Management Co.
grew its stake in shares of Canadian Solar by 43.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co.
now owns 15,733 shares of the solar energy provider’s stock worth $232,000 after acquiring an additional 4,739 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in Canadian Solar by 29.4% in the 2nd quarter.
NewEdge Advisors LLC now owns 69,165 shares of the solar energy provider’s stock worth $1,020,000 after acquiring an additional 15,718 shares during the last quarter. Hedge funds and other institutional investors own 52.36% of the company’s stock.
About Canadian Solar ( Get Free Report ) 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.
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