Canadian Solar Inc. (NASDAQ:CSIQ – Get Free Report) 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.
View Our Latest Stock Analysis on Canadian Solar
Institutional Investors Weigh In On Canadian Solar
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.
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