BidaskClub upgraded shares of Canadian Solar (NASDAQ:CSIQ) from a sell rating to a hold rating in a research report released on Thursday.

Other analysts have also recently issued research reports about the company. Zacks Investment Research raised Canadian Solar from a hold rating to a buy rating and set a $20.00 price objective on the stock in a report on Monday, November 13th. Roth Capital raised Canadian Solar from a neutral rating to a buy rating and set a $24.00 price objective on the stock in a report on Friday, November 10th. Axiom Securities set a $26.00 target price on Canadian Solar and gave the stock a buy rating in a research note on Wednesday, November 15th. ValuEngine upgraded Canadian Solar from a hold rating to a buy rating in a research note on Friday, February 2nd. Finally, Cowen set a $18.00 target price on Canadian Solar and gave the stock a hold rating in a research note on Monday, December 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Canadian Solar currently has an average rating of Hold and an average target price of $18.91.

Shares of Canadian Solar (CSIQ) traded down $0.48 on Thursday, reaching $14.67. The company had a trading volume of 513,160 shares, compared to its average volume of 827,918. The stock has a market cap of $894.99, a PE ratio of 37.72, a price-to-earnings-growth ratio of 0.32 and a beta of 2.71. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.95 and a quick ratio of 0.88. Canadian Solar has a twelve month low of $10.86 and a twelve month high of $19.09.

Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings data on Thursday, November 9th. The solar energy provider reported $0.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.22. The business had revenue of $912.20 million for the quarter, compared to analysts’ expectations of $812.37 million. Canadian Solar had a return on equity of 1.32% and a net margin of 0.84%. The firm’s quarterly revenue was up 38.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 EPS. research analysts predict that Canadian Solar will post 0.97 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Legal & General Group Plc increased its stake in Canadian Solar by 111.1% in the 2nd quarter. Legal & General Group Plc now owns 7,789 shares of the solar energy provider’s stock worth $124,000 after acquiring an additional 4,100 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Canadian Solar during the 4th quarter valued at about $223,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Canadian Solar during the 2nd quarter valued at about $323,000. State Street Corp increased its position in shares of Canadian Solar by 6.0% during the 2nd quarter. State Street Corp now owns 21,698 shares of the solar energy provider’s stock valued at $345,000 after purchasing an additional 1,227 shares during the last quarter. Finally, Virtu KCG Holdings LLC bought a new position in shares of Canadian Solar during the 2nd quarter valued at about $472,000. Institutional investors and hedge funds own 41.82% of the company’s stock.

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About Canadian Solar

Canadian Solar Inc is a solar power company. The Company is a provider of solar power products, services and system solutions with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia. Its segments include module segment, energy development segment and electricity generation segment.

Analyst Recommendations for Canadian Solar (NASDAQ:CSIQ)

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