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

Canadian Solar Inc. (NASDAQ:CSIQ) was the target of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 12,090,000 shares, an increase of 15.3% from the January 15th total of 10,490,000 shares. Currently, 25.6% of the company’s stock are sold short. Based on an average trading volume of 1,890,000 shares, the days-to-cover ratio is presently 6.4 days.

Canadian Solar Price Performance

CSIQ traded up $0.56 during trading on Monday, reaching $10.63. The stock had a trading volume of 1,923,337 shares, compared to its average volume of 1,458,836. Canadian Solar has a 1-year low of $9.56 and a 1-year high of $23.95. The stock has a 50 day moving average of $11.22 and a two-hundred day moving average of $12.68. The firm has a market capitalization of $703.28 million, a price-to-earnings ratio of -88.58, a price-to-earnings-growth ratio of 0.67 and a beta of 1.26. The company has a quick ratio of 0.85, a current ratio of 1.06 and a debt-to-equity ratio of 0.65.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings data on Thursday, December 5th. The solar energy provider reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.13. Canadian Solar had a return on equity of 0.02% and a net margin of 0.01%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the firm earned $0.32 EPS. The company’s quarterly revenue was down 18.4% compared to the same quarter last year. As a group, equities analysts anticipate that Canadian Solar will post -0.23 EPS for the current fiscal year.

Analysts Set New Price Targets

CSIQ has been the topic of a number of analyst reports. Jefferies Financial Group began coverage on Canadian Solar in a research report on Friday, November 22nd. They set a “buy” rating and a $14.15 target price on the stock. The Goldman Sachs Group lowered Canadian Solar from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $14.00 to $11.00 in a report on Tuesday, December 17th. Citigroup lowered Canadian Solar from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $19.00 to $11.00 in a report on Tuesday, October 22nd. StockNews.com lowered Canadian Solar from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Finally, Mizuho began coverage on Canadian Solar in a report on Friday, December 13th. They issued an “outperform” rating and a $20.00 price objective for the company. Five research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $18.31.

Institutional Investors Weigh In On Canadian Solar

Institutional investors and hedge funds have recently modified their holdings of the stock. USCF Advisers LLC lifted its position in shares of Canadian Solar by 66.7% during the 4th quarter. USCF Advisers LLC now owns 2,500 shares of the solar energy provider’s stock valued at $28,000 after acquiring an additional 1,000 shares during the last quarter. Wells Fargo & Company MN raised its stake in Canadian Solar by 184.0% during the 4th quarter. Wells Fargo & Company MN now owns 5,166 shares of the solar energy provider’s stock valued at $57,000 after purchasing an additional 3,347 shares during the period. Daiwa Securities Group Inc. raised its stake in 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 purchasing an additional 1,500 shares during the period. Sciencast Management LP acquired a new stake in Canadian Solar during the 4th quarter valued at $113,000. Finally, Miracle Mile Advisors LLC acquired a new stake in Canadian Solar during the 4th quarter valued at $133,000. Institutional investors and hedge funds own 52.36% of the company’s stock.

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.