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

Canadian Solar Inc. (NASDAQ:CSIQ)’s share price reached a new 52-week low during trading on Monday . The company 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 equities analysts have issued reports on CSIQ shares. Roth Mkm reissued a “buy” rating and issued a $25.00 price target on shares of Canadian Solar in a research note on Wednesday, May 22nd. StockNews.com raised Canadian Solar from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. Wells Fargo & Company dropped their price target on Canadian Solar from $28.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 19th. UBS Group dropped their price target on Canadian Solar from $38.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, June 12th. Finally, Daiwa Capital Markets began coverage on Canadian Solar in a research note on Monday, March 11th. They issued a “neutral” rating and a $21.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $28.89.

Canadian Solar Price Performance

The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.53. The business has a 50-day moving average price of $16.89 and a 200 day moving average price of $19.64. The stock has a market cap of $1.04 billion, a PE ratio of 5.46, a PEG ratio of 0.28 and a beta of 1.29.

Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings results on Thursday, May 9th. The solar energy provider reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.20. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Canadian Solar had a return on equity of 5.61% and a net margin of 2.80%. The business’s revenue for the quarter was down 21.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.19 EPS. As a group, research analysts forecast that Canadian Solar Inc. will post 2.07 earnings per share for the current fiscal year.

Institutional Trading of Canadian Solar

Several institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC purchased a new stake in shares of Canadian Solar in the 1st quarter valued at about $336,000. Bayesian Capital Management LP purchased a new stake in shares of Canadian Solar in the 1st quarter valued at about $575,000. Robotti Robert raised its holdings in shares of Canadian Solar by 92.5% in 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 in the last quarter. Shell Asset Management Co. purchased a new stake in shares of Canadian Solar in the 1st quarter valued at about $675,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Canadian Solar by 16.9% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 76,806 shares of the solar energy provider’s stock valued at $1,518,000 after purchasing an additional 11,092 shares during the last quarter. Hedge funds and other institutional investors own 52.36% of the company’s stock.

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.