Canadian Solar (NASDAQ:CSIQ) Sets New 52-Week Low at $13.91

Canadian Solar Inc. (NASDAQ:CSIQ) shares hit a new 52-week low during trading on Monday . The stock traded as low as $13.91 and last traded at $14.01, with a volume of 1865716 shares. The stock had previously closed at $14.75.

Analysts Set New Price Targets

Several analysts have issued reports on CSIQ shares. Roth Mkm reissued a “buy” rating and set a $25.00 price target on shares of Canadian Solar in a report on Wednesday, May 22nd. UBS Group cut their price target on Canadian Solar from $38.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, June 12th. StockNews.com raised Canadian Solar from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. Citigroup cut their price target on Canadian Solar from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, March 15th. Finally, The Goldman Sachs Group cut their price target on Canadian Solar from $28.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, March 15th. One equities research 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’s stock. According to data from MarketBeat, Canadian Solar presently has an average rating of “Hold” and a consensus target price of $28.89.

Canadian Solar Stock Up 8.1 %

The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 0.79. The firm has a market capitalization of $1.04 billion, a PE ratio of 5.46, a P/E/G ratio of 0.28 and a beta of 1.29. The company has a 50-day moving average price of $16.89 and a 200 day moving average price of $19.64.

Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Thursday, May 9th. The solar energy provider reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.20. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.35 billion. Canadian Solar had a return on equity of 5.61% and a net margin of 2.80%. The firm’s revenue for the quarter was down 21.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.19 earnings per share. Analysts forecast that Canadian Solar Inc. will post 2.07 earnings per share for the current year.

Institutional Investors Weigh In On Canadian Solar

Several institutional investors have recently modified their holdings of CSIQ. Mackenzie Financial Corp boosted its holdings in shares of Canadian Solar by 27.1% in the 4th quarter. Mackenzie Financial Corp now owns 3,952,015 shares of the solar energy provider’s stock worth $103,661,000 after purchasing an additional 843,100 shares during the period. Schroder Investment Management Group boosted its holdings in Canadian Solar by 15.7% during the 4th quarter. Schroder Investment Management Group now owns 1,575,683 shares of the solar energy provider’s stock valued at $41,330,000 after acquiring an additional 213,959 shares during the period. Creative Planning boosted its holdings in Canadian Solar by 103.3% during the 3rd quarter. Creative Planning now owns 404,759 shares of the solar energy provider’s stock valued at $9,961,000 after acquiring an additional 205,671 shares during the period. Robotti Robert boosted its holdings in Canadian Solar by 92.5% during the 1st quarter. Robotti Robert now owns 315,476 shares of the solar energy provider’s stock valued at $6,234,000 after acquiring an additional 151,610 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Canadian Solar by 366.5% during the 4th quarter. Russell Investments Group Ltd. now owns 126,683 shares of the solar energy provider’s stock valued at $3,323,000 after acquiring an additional 99,528 shares during the period. 52.36% of the stock is owned by 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.