NEW YORK (TheStreet) -- Shares of Canadian Solar Inc. (CSIQ) are up 1.97% to $26.89 after the company announced that its modules will power a series of four projects in Georgia totaling 5.1 MW with Atlanta-based solar developer SolAmerica Energy, LLC.
As the sole provider of photovoltaic (PV) modules for these projects, which include two industrial parks and two farms, Canadian Solar expects work to be done by next month.
All of the projects will utilize Canadian Solar CS6X-310-P photovoltaic (PV) modules, and the energy produced from the arrays will be sold to Georgia Power, the largest subsidiary of Southern Co. (SO) .
Separately, TheStreet Ratings team rates CANADIAN SOLAR INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate CANADIAN SOLAR INC (CSIQ) a HOLD. The primary factors that have impacted our rating are mixed--some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity and attractive valuation levels. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk, poor profit margins and a generally disappointing performance in the stock itself."