Canadian Solar Inc. (NASDAQ:CSIQ) Short Interest Update

Canadian Solar Inc. (NASDAQ:CSIQ) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 10,730,000 shares, an increase of 11.3% from the December 15th total of 9,640,000 shares. Currently, 22.7% of the company’s shares are short sold. Based on an average daily volume of 2,230,000 shares, the short-interest ratio is presently 4.8 days.

Canadian Solar Stock Down 0.6 %

NASDAQ:CSIQ traded down $0.07 on Friday, hitting $11.05. The stock had a trading volume of 1,467,541 shares, compared to its average volume of 1,511,765. The company has a market cap of $731.07 million, a PE ratio of -92.08, a P/E/G ratio of 0.80 and a beta of 1.27. Canadian Solar has a 52 week low of $10.60 and a 52 week high of $25.43. The business’s fifty day moving average is $11.94 and its 200 day moving average is $13.57. The company has a quick ratio of 0.85, a current ratio of 1.06 and a debt-to-equity ratio of 0.65.

Canadian Solar (NASDAQ:CSIQ) last issued its earnings results on Thursday, December 5th. The solar energy provider reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.13. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Canadian Solar had a return on equity of 0.02% and a net margin of 0.01%. Canadian Solar’s quarterly revenue was down 18.4% compared to the same quarter last year. During the same period last year, the business earned $0.32 EPS. On average, equities research analysts expect that Canadian Solar will post -0.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on CSIQ shares. Jefferies Financial Group began coverage on Canadian Solar in a report on Friday, November 22nd. They issued a “buy” rating and a $14.15 target price on the stock. Mizuho initiated coverage on shares of Canadian Solar in a research report on Friday, December 13th. They set an “outperform” rating and a $20.00 price objective for the company. Wells Fargo & Company lowered their target price on shares of Canadian Solar from $13.00 to $10.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. StockNews.com cut shares of Canadian Solar from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Citigroup lowered Canadian Solar from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $19.00 to $11.00 in a research report on Tuesday, October 22nd. Five research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Canadian Solar has an average rating of “Hold” and an average target price of $18.31.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. USCF Advisers LLC boosted its position in shares of Canadian Solar by 66.7% during the fourth quarter. USCF Advisers LLC now owns 2,500 shares of the solar energy provider’s stock valued at $28,000 after buying an additional 1,000 shares during the last quarter. American Century Companies Inc. boosted its holdings in Canadian Solar by 8.0% during the 2nd quarter. American Century Companies Inc. now owns 18,716 shares of the solar energy provider’s stock worth $276,000 after acquiring an additional 1,383 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Canadian Solar by 20.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 8,900 shares of the solar energy provider’s stock worth $149,000 after acquiring an additional 1,500 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Canadian Solar by 1.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 110,188 shares of the solar energy provider’s stock worth $1,847,000 after acquiring an additional 1,522 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Canadian Solar in the second quarter valued at about $31,000. 52.36% of the stock is currently owned by institutional investors and hedge funds.

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.