NEW YORK (TheStreet) -- Shares of Canadian Solar  (CSIQ - Get Report) were declining 9.69% to $13.05 on heavy trading volume mid-Wednesday afternoon after rival solar energy company SunPower (SPWR) slashed its 2016 guidance. 

After yesterday's market close, SunPower cut its full-year outlook. The company now anticipates as much as a $175 million loss vs. its expectation in May to earn up to $50 million.

SunPower CEO Tom Werner blamed the revised forecast on macroeconomic conditions such as a lack of tax-equity financing, additional assets being sold by bankrupt SunEdison (SUNE) and aggressive pricing by new competitors, Bloomberg reports.

"I understand the concern, but these changes materialized in the last few months" Werner told analysts on the conference call.

About 4.51 million shares of Canadian Solar have been traded so far today, well above its average trading volume of roughly 1.90 million shares per day. 

Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C.

Canadian Solar's strengths such as its attractive valuation levels and notable return on equity are countered by weaknesses including feeble growth in the company's earnings per share, deteriorating net income and generally higher debt management risk.

You can view the full analysis from the report here: CSIQ

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.