Traders Not Impressed With Canadian Solar's Q2 Report

Canadian Solar Inc. CSIQ shares are trading lower by $0.75 at $16.45 in Monday's session.

The company reported a Q2 EPS loss of 15 cents on revenues of $692 million, a revenue beat of nearly $64 million. Street estimates for EPS were in a wide range with no clear consensus.

After a lower open, Canadian Solar attempted to rally but found resistance just above the lower-end of Friday's range ($16.45), reaching $16.65 and continued its move lower. The ensuing decline took the stock all the way to $15.71, but quickly rebounded to make a new high for the session at $16.68.

The current low coincides with its July 12 low ($15.72).