Canadian Solar Target of Unusually Large Options Trading (CSIQ)
Canadian Solar (NASDAQ:CSIQ) was the recipient of unusually large options trading activity on Friday. Traders purchased 14,991 call options on the stock, Analyst Ratings Network.com reports. This represents an increase of approximately 469% compared to the average volume of 2,633 call options.
CSIQ has been the subject of a number of recent research reports. Analysts at Lazard Capital Markets raised their price target on shares of Canadian Solar (NASDAQ:CSIQ) from $18.00 to $20.00 in a research note to investors on Friday, September 20th. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Canadian Solar (NASDAQ:CSIQ) in a research note to investors on Monday, August 26th. They now have a $14.00 price target on the stock. Finally, analysts at Roth Capital initiated coverage on shares of Canadian Solar (NASDAQ:CSIQ) in a research note to investors on Monday, August 5th. They set a “buy” rating on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Canadian Solar presently has a consensus rating of “Buy” and a consensus target price of $17.75.
Shares of Canadian Solar (NASDAQ:CSIQ) traded up 9.50% during mid-day trading on Friday, hitting $16.72. 4,352,714 shares of the company’s stock traded hands. Canadian Solar has a 1-year low of $1.95 and a 1-year high of $16.40. The stock’s 50-day moving average is $13.27 and its 200-day moving average is $9.35. The company’s market cap is $734.2 million.
Canadian Solar (NASDAQ:CSIQ) last released its earnings data on Thursday, August 8th. The company reported ($0.29) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.20) by $0.09. The company had revenue of $380.40 million for the quarter, compared to the consensus estimate of $419.83 million. During the same quarter in the prior year, the company posted ($0.59) earnings per share. The company’s quarterly revenue was up 9.2% on a year-over-year basis. On average, analysts predict that Canadian Solar will post $0.21 earnings per share for the current fiscal year.
Canadian Solar Inc (NASDAQ:CSIQ) designs, develops, manufactures and sells solar cell and module products that convert sunlight into electricity for a variety of uses.
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