India, March 19 -- Stock of Canadian Solar Inc. (CSIQ) is dropping about 27 percent on Thursday morning trading after the company announced that it turned into a loss of $86 million in the fourth quarter, compared with a profit of $34 million last year.
The company's stock is currently trading at $13.35, down 27.92 percent or $5.17, over the previous close of $18.52 on the Nasdaq. It has traded between $6.57 and $34.59 in the past one year.
Net revenues were $1.2 billion, down 20% from a year ago, mainly due to lower sales of solar modules and battery energy storage systems.
Published by HT Digital Content Services with permission from RTT News....