Brokerages Set Canadian Solar Inc. (NASDAQ:CSIQ) Target Price at $18.04

Canadian Solar Inc. (NASDAQ:CSIQ) has been assigned a consensus recommendation of “Hold” from the ten analysts that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $18.04.

A number of research firms have commented on CSIQ. The Goldman Sachs Group cut shares of Canadian Solar from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $14.00 to $11.00 in a research note on Tuesday, December 17th. Mizuho began coverage on shares of Canadian Solar in a research note on Friday, December 13th. They set an “outperform” rating and a $20.00 target price on the stock. StockNews.com cut shares of Canadian Solar from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Finally, Wells Fargo & Company decreased their target price on shares of Canadian Solar from $13.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th.

Institutional Investors Weigh In On Canadian Solar

Several large investors have recently bought and sold shares of the business. USCF Advisers LLC increased its position in Canadian Solar by 66.7% in the fourth quarter. USCF Advisers LLC now owns 2,500 shares of the solar energy provider’s stock worth $28,000 after purchasing an additional 1,000 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Canadian Solar by 20.3% in the third quarter. Daiwa Securities Group Inc. now owns 8,900 shares of the solar energy provider’s stock worth $149,000 after purchasing an additional 1,500 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Canadian Solar by 1.4% in the third 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 purchasing an additional 1,522 shares during the last quarter. Wells Fargo & Company MN increased its position in Canadian Solar by 184.0% in the fourth quarter. Wells Fargo & Company MN now owns 5,166 shares of the solar energy provider’s stock worth $57,000 after purchasing an additional 3,347 shares during the last quarter. Finally, Shell Asset Management Co. increased its position in Canadian Solar by 11.4% in the fourth quarter. Shell Asset Management Co. now owns 40,499 shares of the solar energy provider’s stock worth $450,000 after purchasing an additional 4,134 shares during the last quarter. Institutional investors own 52.36% of the company’s stock.

Canadian Solar Stock Performance

CSIQ opened at $9.96 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. The company has a market cap of $658.94 million, a price-to-earnings ratio of -83.00, a PEG ratio of 0.74 and a beta of 1.34. The company’s 50 day moving average is $10.43 and its 200 day moving average is $12.13. Canadian Solar has a 12-month low of $9.19 and a 12-month high of $21.05.

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.