Canadian Solar (NASDAQ:CSIQ) Now Covered by Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Canadian Solar (NASDAQ:CSIQ) in a report released on Friday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $14.15 price objective on the solar energy provider’s stock.

Other research analysts also recently issued reports about the company. The Goldman Sachs Group reduced their target price on Canadian Solar from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, August 26th. Glj Research raised their target price on shares of Canadian Solar from $9.10 to $12.28 and gave the stock a “sell” rating in a research note on Tuesday, July 30th. StockNews.com lowered Canadian Solar from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Roth Mkm lowered their price objective on Canadian Solar from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Finally, Oppenheimer dropped their price target on shares of Canadian Solar from $43.00 to $27.00 and set an “outperform” rating for the company in a research note on Friday, August 23rd. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $19.94.

Canadian Solar Trading Up 9.7 %

Shares of NASDAQ:CSIQ opened at $13.07 on Friday. The business has a 50 day moving average of $13.73 and a two-hundred day moving average of $14.94. Canadian Solar has a 12-month low of $10.91 and a 12-month high of $26.85. The company has a market capitalization of $864.71 million, a PE ratio of 25.63, a PEG ratio of 3.89 and a beta of 1.34. The company has a current ratio of 1.04, a quick ratio of 0.82 and a debt-to-equity ratio of 0.53.

Hedge Funds Weigh In On Canadian Solar

Several hedge funds have recently bought and sold shares of the company. Quarry LP purchased a new position in shares of Canadian Solar in the second quarter valued at approximately $31,000. Daiwa Securities Group Inc. increased its holdings 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 worth $149,000 after purchasing an additional 1,500 shares during the period. Private Advisor Group LLC acquired a new stake in Canadian Solar in the third quarter valued at approximately $219,000. Northwestern Mutual Wealth Management Co. grew its holdings in Canadian Solar by 43.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 15,733 shares of the solar energy provider’s stock worth $232,000 after acquiring an additional 4,739 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Canadian Solar by 27.6% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 17,435 shares of the solar energy provider’s stock valued at $257,000 after purchasing an additional 3,768 shares during the last quarter. Institutional investors and hedge funds own 52.36% of the company’s stock.

About Canadian Solar

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.