Tuesday, July 23, 2024

Canadian Solar (NASDAQ:CSIQ) Shares Down 5.2%

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Canadian Solar Inc. (NASDAQ:CSIQ – Get Free Report) shares traded up 5.2% on Friday. The inventory traded as little as $14.70 and final traded at $14.70. 926,025 shares traded arms in mid-day buying and selling, a lower of 40% from the session’s common quantity of 1,550,067 shares. The inventory beforehand closed at $15.50.

Wall Street Analysts weigh in

Several equities analysis analysts have not too long ago weighed in on the inventory. Goldman Sachs Group lowered their value goal on shares of Canadian Solar from $28.00 to $24.00 and set a “impartial” ranking for the corporate in a analysis report on Friday, March fifteenth. Daiwa Capital Markets started protection on shares of Canadian Solar in a analysis report on Monday, March 11. They issued a “impartial” ranking and a $21.00 value goal for the corporate. Wells Fargo & Company lowered their goal value on shares of Canadian Solar from $28.00 to $23.00 and set an “equal weight” ranking for the corporate in a analysis report on Tuesday, March nineteenth.Downgraded of UBS Group lifted their value goal on shares of Canadian Solar from $38.00 to $35.00 and set a “purchase” ranking for the corporate in a analysis report on Wednesday, June twelfth. Finally, Citigroup lowered their value goal on shares of Canadian Solar from $26.00 to $24.00 and set a “impartial” ranking for the corporate in a analysis report on Friday, March fifteenth. One funding analyst has rated the inventory with a promote ranking, 5 have assigned a maintain ranking and 4 have assigned a purchase ranking to the inventory. Based on information from MarketBeat.com, the corporate presently has a mean ranking of “Hold” and a mean value goal of $28.89.

Get Our Latest Canadian Solar Stock Analysis

Canadian Solar Price Performance

The firm has a debt-to-equity ratio of 0.53, a fast ratio of 0.79 and a present ratio of 1.02. The firm has a market cap of $975.86 million, a price-to-earnings ratio of 5.12, a price-to-earnings development ratio of 0.28 and a beta of 1.35. The inventory’s 50-day easy shifting common is $16.91 and its 200-day easy shifting common is $19.80.

Canadian Solar (NASDAQ:CSIQ – Get Free Report ) final issued its quarterly earnings outcomes on Thursday, May 9. The photo voltaic power supplier reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate. analysts estimate ($0.01) to $0.20. Canadian Solar has a internet margin of two.80% and a return on fairness of 5.61%. The enterprise had income of $1.34 billion for the quarter, in comparison with analyst estimates of $1.35 billion. During the identical quarter final yr, the enterprise posted $1.19 EPS. Canadian Solar’s income for the quarter was down 21.1% in comparison with the identical quarter final yr. Equities analysis analysts count on Canadian Solar Inc. will submit 2.07 EPS for the present fiscal yr.

Institutional Ebbs and Flows

A variety of hedge funds have not too long ago purchased and offered shares of CSIQ. USCF Advisers LLC lifted its stake in shares of Canadian Solar by 87.5% within the fourth quarter. USCF Advisers LLC now owns 1,500 shares of the photo voltaic power supplier’s inventory value $39,000 after buying an extra 700 shares throughout the interval. Green Alpha Advisors LLC elevated its stake in shares of Canadian Solar by 1.9% within the first quarter. Green Alpha Advisors LLC now owns 41,136 shares of the photo voltaic power supplier’s inventory value $813,000 after buying an extra 766 shares throughout the interval. DekaBank Deutsche Girozentrale elevated its stake in shares of Canadian Solar by 8.0% within the fourth quarter. DekaBank Deutsche Girozentrale now owns 12,481 shares of the photo voltaic power supplier’s inventory value $326,000 after buying an extra 928 shares throughout the interval. Scotia Capital Inc. elevated its stake in shares of Canadian Solar by 3.0% within the fourth quarter. Scotia Capital Inc. now owns 39,400 shares of the photo voltaic power supplier’s inventory value $1,033,000 after buying an extra 1,130 shares throughout the interval. Finally, Janney Montgomery Scott LLC elevated its stake in shares of Canadian Solar by 9.2% within the first quarter. Janney Montgomery Scott LLC now owns 15,291 shares of the photo voltaic power supplier’s inventory value $302,000 after buying an extra 1,283 shares throughout the interval. Institutional buyers and hedge funds personal 52.36% of the corporate’s inventory.

Canadian Solar Company Profile

(Get a Free Report)

Canadian Solar Inc, along with its subsidiaries, supplies photo voltaic and battery power storage merchandise and options in Asia, America, Europe, and internationally. The firm operates by two segments, CSI Solar and Recurrent Energy. The CSI Solar phase designs, develops, and manufactures photo voltaic ingots, wafers, cells, modules, and different solar energy and battery storage merchandise.

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