Canadian Solar Inc. (NASDAQ:CSIQ – Get Free Report) Director Leslie Li Hsien Chang sold 1,767 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $19.45, for a total value of $34,368.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Canadian Solar Trading Up 6.4%
CSIQ opened at $20.26 on Friday. Canadian Solar Inc. has a 52 week low of $9.41 and a 52 week high of $34.59. The business has a fifty day simple moving average of $15.33 and a 200-day simple moving average of $19.85. The firm has a market cap of $1.37 billion, a P/E ratio of -8.04 and a beta of 1.44. The company has a quick ratio of 0.81, a current ratio of 1.06 and a debt-to-equity ratio of 0.99.
Canadian Solar (NASDAQ:CSIQ – Get Free Report) last released its quarterly earnings results on Friday, May 15th. The solar energy provider reported ($0.71) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.35. Canadian Solar had a negative return on equity of 4.20% and a negative net margin of 1.87%.The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $950.43 million. During the same period last year, the business posted ($1.07) earnings per share. The company’s quarterly revenue was down 9.9% on a year-over-year basis. On average, equities analysts expect that Canadian Solar Inc. will post -1.16 earnings per share for the current year.
Institutional Trading of Canadian Solar
Wall Street Analysts Forecast Growth
Several brokerages have commented on CSIQ. Mizuho decreased their price target on shares of Canadian Solar from $19.00 to $15.00 and set a “neutral” rating for the company in a research report on Monday, March 23rd. Wells Fargo & Company decreased their price target on shares of Canadian Solar from $23.00 to $17.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Weiss Ratings reissued a “sell (d+)” rating on shares of Canadian Solar in a research report on Friday, March 27th. Oppenheimer decreased their price target on shares of Canadian Solar from $38.00 to $19.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Finally, Wall Street Zen raised shares of Canadian Solar from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $18.36.
Read Our Latest Research Report on Canadian Solar
About Canadian Solar
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.
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