Canadian Solar (NASDAQ:CSIQ) Shares Gap Down – Should You Sell?

Canadian Solar Inc. (NASDAQ:CSIQ) gapped down before the market opened on Monday . The stock had previously closed at $20.06, but opened at $19.24. Canadian Solar shares last traded at $20.32, with a volume of 966,650 shares.

Analysts Set New Price Targets

CSIQ has been the subject of several recent research reports. Mizuho decreased their price objective on Canadian Solar from $19.00 to $15.00 and set a “neutral” rating for the company in a report on Monday, March 23rd. Oppenheimer decreased their price objective on Canadian Solar from $38.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, March 20th. Roth Mkm lowered their price target on shares of Canadian Solar from $30.00 to $15.00 and set a “neutral” rating on the stock in a research report on Monday, March 23rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Canadian Solar in a research report on Friday, March 27th. Finally, Wall Street Zen lowered shares of Canadian Solar from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Canadian Solar presently has a consensus rating of “Hold” and an average price target of $18.36.

Canadian Solar Trading Down 1.1%

The firm’s 50-day moving average price is $15.07 and its 200-day moving average price is $19.89. The company has a quick ratio of 0.83, a current ratio of 1.02 and a debt-to-equity ratio of 0.97. The company has a market cap of $1.35 billion, a P/E ratio of -7.94 and a beta of 1.44.

Canadian Solar (NASDAQ:CSIQ) last issued its earnings results on Saturday, February 14th. The solar energy provider reported ($1.66) EPS for the quarter. Canadian Solar had a negative return on equity of 4.95% and a negative net margin of 1.86%.The company had revenue of $1.22 billion during the quarter. As a group, equities research analysts expect that Canadian Solar Inc. will post -1.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. bought a new position in Canadian Solar in the 4th quarter worth about $48,000. Quarry LP bought a new position in Canadian Solar in the 4th quarter worth about $54,000. Taikang Asset Management Hong Kong Co Ltd bought a new position in Canadian Solar in the 4th quarter worth about $69,000. Raymond James Financial Inc. bought a new position in Canadian Solar in the 2nd quarter worth about $33,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Canadian Solar by 335.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,198 shares of the solar energy provider’s stock worth $42,000 after purchasing an additional 2,463 shares during the period. Institutional investors own 52.36% of the company’s stock.

Canadian Solar Company Profile

Canadian Solar Inc (NASDAQ: CSIQ) is a global renewable energy company that specializes in the design, development and manufacturing of solar photovoltaic (PV) modules and system solutions. Founded in 2001 and headquartered in Guelph, Ontario, the company has grown to become one of the world’s largest solar module suppliers. Canadian Solar offers a comprehensive portfolio of products, including mono- and multi-crystalline solar cells and modules, as well as advanced energy storage and system integration solutions tailored for residential, commercial and utility-scale applications.

In addition to manufacturing solar components, Canadian Solar provides end-to-end services encompassing project development, engineering, procurement and construction (EPC), as well as operations and maintenance.