Canadian Solar Inc. (NASDAQ:CSIQ)’s share price fell 6.7% during mid-day trading on Monday . The company traded as low as $17.65 and last traded at $17.83. 955,047 shares changed hands during trading, an increase of 6% from the average session volume of 903,390 shares. The stock had previously closed at $19.12.

A number of brokerages have recently issued reports on CSIQ. Standpoint Research downgraded Canadian Solar from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. ValuEngine raised Canadian Solar from a “hold” rating to a “buy” rating in a research report on Saturday, February 23rd. Cascend Securities raised Canadian Solar from a “hold” rating to a “buy” rating and upped their price target for the stock from $21.00 to $27.00 in a research report on Wednesday, February 20th. UBS Group raised Canadian Solar from a “sell” rating to a “neutral” rating and set a $23.00 price target on the stock in a research report on Monday, February 11th. Finally, Zacks Investment Research downgraded Canadian Solar from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Canadian Solar has an average rating of “Buy” and an average price target of $21.50.

The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 5.52, a price-to-earnings-growth ratio of 0.23 and a beta of 2.43. The company has a current ratio of 1.04, a quick ratio of 0.95 and a debt-to-equity ratio of 0.31.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings data on Thursday, March 21st. The solar energy provider reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.74. The firm had revenue of $901.00 million for the quarter, compared to analyst estimates of $872.02 million. Canadian Solar had a net margin of 6.33% and a return on equity of 18.40%. The business’s quarterly revenue was down 18.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.01 earnings per share. As a group, analysts anticipate that Canadian Solar Inc. will post 2.4 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in CSIQ. Financial Gravity Wealth Inc. purchased a new stake in shares of Canadian Solar during the first quarter valued at $26,000. Legal & General Group Plc purchased a new stake in shares of Canadian Solar during the third quarter valued at $49,000. Quantamental Technologies LLC purchased a new stake in shares of Canadian Solar during the fourth quarter valued at $66,000. Advisor Group Inc. boosted its holdings in Canadian Solar by 71.0% in the first quarter. Advisor Group Inc. now owns 4,267 shares of the solar energy provider’s stock valued at $79,000 after purchasing an additional 1,771 shares during the last quarter. Finally, Macquarie Group Ltd. purchased a new stake in Canadian Solar in the fourth quarter valued at $118,000. 38.72% of the stock is currently owned by hedge funds and other institutional investors.

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Canadian Solar Company Profile (NASDAQ:CSIQ)

Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power products primarily under the Canadian Solar brand name. The company operates through two segments, Module and System Solutions, and Energy. Its products include various solar modules that are used in residential, commercial, and industrial solar power generation systems.

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