Canadian Solar Inc. (NASDAQ:CSIQ) saw a significant decline in short interest in January. As of January 31st, there was short interest totalling 3,060,000 shares, a decline of 9.2% from the January 15th total of 3,370,000 shares. Based on an average daily trading volume, of 939,800 shares, the short-interest ratio is presently 3.3 days. Currently, 6.7% of the company’s stock are sold short.

Shares of CSIQ stock traded down $0.60 during trading hours on Friday, reaching $23.32. 531,200 shares of the company’s stock were exchanged, compared to its average volume of 772,010. The stock’s 50 day moving average is $21.89 and its 200-day moving average is $20.25. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 6.63, a P/E/G ratio of 0.22 and a beta of 2.10. The company has a current ratio of 1.09, a quick ratio of 0.95 and a debt-to-equity ratio of 0.40. Canadian Solar has a fifty-two week low of $14.50 and a fifty-two week high of $25.89.

Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings results on Tuesday, November 12th. The solar energy provider reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.22). The business had revenue of $759.90 million for the quarter, compared to analyst estimates of $799.55 million. Canadian Solar had a return on equity of 12.91% and a net margin of 6.77%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 earnings per share. Equities analysts anticipate that Canadian Solar will post 1.7 EPS for the current year.

Canadian Solar declared that its board has initiated a stock repurchase plan on Monday, December 9th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the solar energy provider to purchase up to 13% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

A number of brokerages recently commented on CSIQ. Roth Capital reissued a “buy” rating and issued a $32.00 price objective on shares of Canadian Solar in a research note on Monday, December 2nd. Zacks Investment Research downgraded shares of Canadian Solar from a “hold” rating to a “strong sell” rating and set a $24.00 price objective for the company. in a research note on Tuesday, January 14th. Goldman Sachs Group raised Canadian Solar from a “neutral” rating to a “buy” rating in a research report on Friday, January 3rd. ValuEngine downgraded Canadian Solar from a “hold” rating to a “sell” rating in a research report on Friday, January 3rd. Finally, BidaskClub downgraded Canadian Solar from a “buy” rating to a “hold” rating in a research report on Saturday, January 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $27.75.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Samalin Investment Counsel LLC acquired a new position in shares of Canadian Solar in the 4th quarter valued at $33,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Canadian Solar by 32.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,100 shares of the solar energy provider’s stock valued at $91,000 after acquiring an additional 1,000 shares during the period. Clear Harbor Asset Management LLC acquired a new position in shares of Canadian Solar in the 4th quarter valued at $144,000. Tower Research Capital LLC TRC increased its position in shares of Canadian Solar by 28.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,828 shares of the solar energy provider’s stock valued at $151,000 after acquiring an additional 1,498 shares during the period. Finally, Ellington Management Group LLC acquired a new position in shares of Canadian Solar in the 4th quarter valued at $210,000. 39.38% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Solar Company Profile

Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power products primarily under the Canadian Solar brand name. The company operates through two segments, Module and System Solutions, and Energy. Its products include various solar modules that are used in residential, commercial, and industrial solar power generation systems.

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