Canadian Solar (NASDAQ:CSIQ) Director Sells $34,368.15 in Stock

Canadian Solar Inc. (NASDAQ:CSIQ) Director Leslie Li Hsien Chang sold 1,767 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $19.45, for a total transaction of $34,368.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Canadian Solar Trading Up 0.6%

Shares of Canadian Solar stock opened at $19.05 on Thursday. The company’s fifty day moving average price is $15.29 and its two-hundred day moving average price is $19.90. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.06 and a quick ratio of 0.81. Canadian Solar Inc. has a 52-week low of $9.41 and a 52-week high of $34.59. The firm has a market capitalization of $1.29 billion, a PE ratio of -7.56 and a beta of 1.44.

Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Friday, May 15th. The solar energy provider reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($1.06) by $0.35. Canadian Solar had a negative net margin of 1.87% and a negative return on equity of 4.20%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $950.43 million. During the same quarter in the prior year, the firm earned ($1.07) EPS. The firm’s quarterly revenue was down 9.9% compared to the same quarter last year. On average, analysts expect that Canadian Solar Inc. will post -1.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CSIQ shares. Oppenheimer cut their target price on shares of Canadian Solar from $38.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, March 20th. Wells Fargo & Company cut their target price on shares of Canadian Solar from $23.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Roth Mkm cut their target price on shares of Canadian Solar from $30.00 to $15.00 and set a “neutral” rating on the stock in a research report on Monday, March 23rd. Freedom Capital downgraded shares of Canadian Solar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Finally, Wall Street Zen upgraded shares of Canadian Solar from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $18.36.

Institutional Trading of Canadian Solar

A number of hedge funds have recently modified their holdings of CSIQ. Goldman Sachs Group Inc. raised its position in shares of Canadian Solar by 20.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 548,853 shares of the solar energy provider’s stock valued at $4,748,000 after acquiring an additional 92,002 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Canadian Solar by 141.9% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 9,100 shares of the solar energy provider’s stock valued at $100,000 after acquiring an additional 5,338 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Canadian Solar by 20.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 842,703 shares of the solar energy provider’s stock valued at $9,539,000 after acquiring an additional 145,867 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Canadian Solar in the 2nd quarter valued at approximately $33,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Canadian Solar in the 2nd quarter valued at approximately $790,000. 52.36% of the stock is currently owned by institutional investors and hedge funds.

Canadian Solar Company Profile

Canadian Solar Inc (NASDAQ: CSIQ) is a global renewable energy company that specializes in the design, development and manufacturing of solar photovoltaic (PV) modules and system solutions. Founded in 2001 and headquartered in Guelph, Ontario, the company has grown to become one of the world’s largest solar module suppliers. Canadian Solar offers a comprehensive portfolio of products, including mono- and multi-crystalline solar cells and modules, as well as advanced energy storage and system integration solutions tailored for residential, commercial and utility-scale applications.

In addition to manufacturing solar components, Canadian Solar provides end-to-end services encompassing project development, engineering, procurement and construction (EPC), as well as operations and maintenance.