Canadian Solar Inc. (NASDAQ: CSIQ) received a consensus “Buy” rating of nine analysts currently covering the company, according to Marketbeat.com. One research analyst has rated the stock with a sell rating, two with a hold rating and six with a buy rating. The average 12-month target price among brokers who have covered the stock over the past year is $ 48.67.
A number of stock analysts have published reports on CSIQ stocks. Zacks Investment Research downgraded Canadian Solar from a “buy” rating to a “strong sell” rating and set a price target of $ 34.00 for the company. in a research report on Tuesday, November 24th. The Smith Barney Citigroup reported on Canadian Solar in a research note on Friday, January 8th. They gave a Buy recommendation and a target price of USD 71.00 for the company. Oppenheimer raised his target price for Canadian Solar from USD 33.00 to USD 48.00 and rated the share as “Outperform” in a research note on Friday, November 20. Goldman Sachs Group downgraded Canadian Solar from a “buy” rating to a “neutral” rating in a research note on Monday, January 4th, and raised its price target for the stock from $ 43.00 to $ 48.00. Finally, Roth Capital raised its target price for Canadian Solar from USD 32.00 to USD 50.00 and gave the stock a “Buy” rating in a research note on Friday November 20th.
Several institutional investors recently changed their holdings in CSIQ. First Trust Advisors LP increased its position in Canadian Solar stocks by 3.9% in the first quarter. First Trust Advisors LP now owns 57,098 shares in the solar energy provider valued at $ 1,064,000 after purchasing an additional 2,148 shares in the last quarter. New Jersey State Common Pension Fund D added a new position in Canadian Solar shares valued at approximately $ 620,000 during the third quarter. Raymond James & Associates added a new position in Canadian Solar shares valued at approximately $ 289,000 during the third quarter. The California Public Employees Retirement System added 4.0% to its position in Canadian Solar stocks in the third quarter. California Public Employees Retirement System now owns 110,167 shares of the solar energy company, valued at $ 3,867,000, after purchasing an additional 4,230 shares last quarter. Finally, Zürcher Kantonalbank increased its position in Canadian Solar stocks by 254.9% in the third quarter. Zürcher Kantonalbank Zürcher Kantonalbank now owns 17,803 shares in the solar energy provider valued at $ 625,000 after purchasing an additional 12,787 shares in the last quarter. Hedge funds and other institutional investors own 41.03% of the company’s shares.
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Canadian Solar stock lost $ 1.08 on Monday to hit $ 44.90. The company had a trading volume of 21,183 shares compared to an average volume of 2,132,793 shares. Canadian Solar has a 52-week low of $ 12.00 and a 52-week high of $ 67.39. The company’s 50-day simple moving average is $ 53.50 and the company’s 200-day simple moving average is $ 43.61. The company has a market cap of $ 2.67 billion, value for money of 12.93, value for money of 0.71, and a beta of 1.55. The company has a current rate of 1.24, a quick rate of 1.04, and a leverage ratio of 0.47.
About Canadian Solar
Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures and sells solar bars, wafers, cells, modules and other solar power products. The company operates in two segments: module and system solutions (MSS) and energy. The MSS segment designs, manufactures, and sells a range of solar energy products, including standard solar modules, specialty solar products, and solar system kits, which are ready-to-install packages that include inverters, shelving systems, and other accessories.
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7 stocks that could make a year-end rally
The markets are tough right now. The volatility is based on uncertainty. The VIX Index (INDEXCBOE: VIX), also known as the Fear Index, is unofficial but an incredibly accurate predictor of market sentiment. And the VIX is up 30% in the last month.
Is this uncertainty due to concerns about additional lockdown measures? Is it about the lack of an additional coronavirus stimulus? Is the market responding to an increase in unemployment claims? Or is this just the somewhat normal volatility that occurs in an election year that promises to be like none in American history?
The answer is all above and a lot more. But does that mean you should stay out of stocks? I do not believe that. Where will you go The Fed has promised that interest rates will not go fast anywhere. And this news is weighing on the bond market.
So it is stocks. While growth investors may be tempted to look into the tech sector to see what’s for sale today, I recommend a more focused approach. Instead of focusing on a single sector, try to look at solid performers in different sectors who may be poised to see a surge in the past three months.
The pandemic brought the entire market to a standstill. But when investors breathed in, they found bargains. And if you had the courage to put your money into these stocks, you have been rewarded.
Times like these require the same courage. That’s why we’ve put together this special presentation with seven stocks ready to amaze investors with nice year-end profits.
Check out the “7 Stocks That Could Make a Year-End Rally”.