Canadian Solar (NASDAQ: CSIQ) The price target was lowered from USD 54.00 to USD 46.00 by equity researchers at JPMorgan Chase & Co. in a research report published on Monday for customers and investors, reports The Fly. The broker currently has a “neutral” rating for the solar energy provider’s share. JPMorgan Chase & Co.’s price target indicates a possible upward movement of 13.36% over the current price of the stock.
Other research analysts have also released reports on the stock. Roth Capital raised its target price for shares in Canadian Solar from USD 32.00 to USD 50.00 and gave the share a “Buy” rating in a research note on Friday, November 20. Zacks Investment Research cut Canadian Solar’s shares 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 began reporting on Canadian Solar shares in a report on Friday, January 8th. They gave a buy rating and a target price of $ 71.00 on the stock. CICC Research upgraded Canadian Solar’s shares from a “Market Perform” rating to an “Outperform” rating on Wednesday, November 25th, and set a price target of $ 48.00 on the stock. Eventually, Oppenheimer raised its target price on shares in Canadian Solar from USD 33.00 to USD 48.00 and rated the company as “outperforming” in a report on Friday, November 20. One equity research analyst has rated the stock with a sell rating, two with a hold rating, and six with a buy rating. The stock currently has a consensus rating of “Buy” and a consensus target of $ 48.67.
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Canadian Solar shares opened at $ 40.58 on Monday. The company has a leverage ratio of 0.47, a current rate of 1.24, and a fast rate of 1.04. The company has a 50-day moving average of $ 55.05 and a 200-day moving average of $ 43.05. The company has a market cap of $ 2.41 billion, value for money of 11.76, a PEG ratio of 0.71, and a beta of 1.55. Canadian Solar has a 1-year low of $ 12.00 and a 1-year high of $ 67.39.
A number of major investors recently increased or reduced their stake in CSIQ. First Trust Advisors LP increased its stake in Canadian Solar 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 during the period. New Jersey State Common Pension Fund D acquired a new position in Canadian Solar valued at approximately $ 620,000 in the third quarter. Daiwa Securities Group Inc. increased its position in Canadian Solar by 28.6% in the third quarter. Daiwa Securities Group Inc. now owns 3,600 shares of the solar energy company, valued at $ 126,000, after purchasing an additional 800 shares last quarter. Sigma Planning Corp acquired a new stake in Canadian Solar valued at approximately $ 405,000 in the third quarter. Eventually, Raymond James & Associates acquired a new stake in Canadian Solar for approximately $ 289,000 in the third quarter. 41.03% of the shares belong to institutional investors.
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 shares to sell before the new year
We’re officially into the holiday season, which means it’s time to get our portfolios set up for the New Year. And for many investors, 2021 can’t get here fast enough. Do not get me wrong. Overall, investing in stocks was a wise move. But it wasn’t without its ups and downs. In order for investors to benefit in this market, they have to be convinced.
But being convinced also means knowing when it’s time to sell. One of the hardest things in life and investing is letting go of an idea that just doesn’t work. There are a lot of story stocks out there. And while these stories may turn out to be more than fairy tales, in the long run it doesn’t mean you have to pay tomorrow’s prices today.
Or it could just be a good time to take profits. A new administration in Washington DC will bring a different and most likely less favorable tax policy on capital gains. It may be beneficial to take advantage of some of your winnings now.
Whatever your motivation, we’ve put together a list of seven stocks to sell before the new year.
Check out the “7 Stocks to Sell Before the New Year”.