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Economy

JP Morgan Cuts Canadian Solar (NASDAQ:CSIQ) Stock To a "Underweight" Rating

JP Morgan has given Canadian Solar (NASDAQ:CSIQ) shares a new "Underweight" rating in analysts report sent to investors on 27 March. The firm had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.06 billion. The stock of Canadian Solar Inc.

Among 18 analysts covering Canadian Solar Inc. The firm has a market cap of $1,015.64, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.48 and a beta of 2.60. Through this figure traders can analyze that CSIQ show whether or not a stock now most active and standing in buying side or sell side. JPMorgan Chase & Co. raised shares of Canadian Solar from an underweight rating to a neutral rating and set a $16.00 price objective for the company in a report on Thursday, February 1st.

The company's Perf Half Y was reduced 2.74% whereas Perf Year was settled at 45.45% and Perf YTD by -2.25% Let me explain you a little about the term "YTD", which indicates a timeframe, starting the day one of the current calendar year or fiscal year up to the current date. Canadian Solar Inc. had 46 analyst reports since August 19, 2015 according to SRatingsIntel.

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Canadian Solar Inc., together with its subsidiaries, designs, develops, makes, and sells solar ingots, wafers, cells, modules, and other solar power products primarily under the Canadian Solar brand name. State Street Corp raised its position in shares of Canadian Solar by 6.0% in the 2nd quarter. Canadian Solar has a 1-year low of $11.31 and a 1-year high of $19.09. Barclays Capital downgraded the shares of CSIQ in report on Wednesday, August 24 to "Equal-Weight" rating.

Currently Canadian Solar Inc (NASDAQ:CSIQ)'s shares owned by insiders are 31%, whereas shares owned by institutional owners are 42.5%. The rating was downgraded by Axiom Capital on Friday, December 15 to "Hold". Cowen & Co initiated Canadian Solar Inc. Finally, Cowen set a $18.00 price objective on shares of Canadian Solar and gave the stock a "hold" rating in a research note on Monday, December 11th. HBK Investments L P acquired a new position in shares of Canadian Solar in the 4th quarter valued at approximately $282,000. Quinn Opportunity Partners LLC purchased a new stake in shares of Canadian Solar during the fourth quarter valued at about $354,000. State Street Corp now owns 21,698 shares of the solar energy provider's stock valued at $345,000 after buying an additional 1,227 shares in the last quarter. The hedge fund run by Greg Taxin held 42,708 shares of the consumer durables company at the end of 2017Q4, valued at $7.26 million, up from 5,427 at the end of the previous reported quarter. (NASDAQ:CSIQ) on Friday, August 21 to "Buy" rating. Canadian Solar Inc (NASDAQ:CSIQ) has a current PEG of 0.3. If you are accessing this article on another domain, it was copied illegally and republished in violation of global copyright & trademark laws. The rating was downgraded by FBR Capital on Tuesday, November 22 to "Mkt Perform". The Company is a provider of solar power products, services and system solutions with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia. The firm operates through two divisions, Module and Energy.



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