Canadian Solar Inc. (NASDAQ:CSIQ) Short Interest Update

Canadian Solar Inc. (NASDAQ:CSIQ) was the target of a significant decrease in short interest in February. As of February 28th, there was short interest totalling 10,540,000 shares, a decrease of 17.0% from the February 13th total of 12,700,000 shares. Currently, 22.4% of the company’s stock are sold short. Based on an average daily volume of 1,760,000 shares, the short-interest ratio is currently 6.0 days.

Analyst Upgrades and Downgrades

CSIQ has been the topic of a number of recent analyst reports. The Goldman Sachs Group downgraded Canadian Solar from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $14.00 to $11.00 in a research report on Tuesday, December 17th. Mizuho initiated coverage on Canadian Solar in a research report on Friday, December 13th. They set an “outperform” rating and a $20.00 price target on the stock. StockNews.com downgraded Canadian Solar from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Wells Fargo & Company cut their target price on Canadian Solar from $13.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group started coverage on Canadian Solar in a research report on Friday, November 22nd. They issued a “buy” rating and a $14.15 target price on the stock. Five investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $18.04.

Institutional Investors Weigh In On Canadian Solar

Several hedge funds have recently bought and sold shares of CSIQ. KBC Group NV lifted its position in shares of Canadian Solar by 36.2% during the 3rd quarter. KBC Group NV now owns 142,402 shares of the solar energy provider’s stock valued at $2,387,000 after buying an additional 37,850 shares in the last quarter. Prospera Financial Services Inc purchased a new position in shares of Canadian Solar during the 3rd quarter valued at approximately $333,000. Charles Schwab Investment Management Inc. lifted its position in shares of Canadian Solar by 101.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 113,461 shares of the solar energy provider’s stock valued at $1,902,000 after buying an additional 57,246 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Canadian Solar by 131.5% during the 3rd quarter. Cerity Partners LLC now owns 428,733 shares of the solar energy provider’s stock valued at $7,186,000 after buying an additional 243,542 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Canadian Solar by 20.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 8,900 shares of the solar energy provider’s stock valued at $149,000 after buying an additional 1,500 shares in the last quarter. Hedge funds and other institutional investors own 52.36% of the company’s stock.

Canadian Solar Stock Performance

Canadian Solar stock traded up $0.76 during mid-day trading on Wednesday, hitting $10.54. The company had a trading volume of 2,151,231 shares, compared to its average volume of 1,816,403. The company has a current ratio of 1.06, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. Canadian Solar has a 12-month low of $9.19 and a 12-month high of $21.05. The company’s fifty day moving average is $10.58 and its 200-day moving average is $12.18. The company has a market capitalization of $697.38 million, a price-to-earnings ratio of -87.84, a P/E/G ratio of 0.74 and a beta of 1.34.

Canadian Solar Company Profile

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.