JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Canadian Solar (NASDAQ:CSIQ) Stock

Canadian Solar (NASDAQ:CSIQ) had its price objective raised by investment analysts at JPMorgan Chase & Co. from $7.00 to $8.00 in a report issued on Friday,Benzinga reports. The firm presently has an “underweight” rating on the solar energy provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 31.62% from the company’s current price.

A number of other analysts have also recently weighed in on CSIQ. Citigroup lowered their target price on shares of Canadian Solar from $12.50 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, August 21st. Wall Street Zen cut shares of Canadian Solar from a “hold” rating to a “sell” rating in a research note on Saturday, August 30th. Mizuho decreased their price objective on shares of Canadian Solar from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, August 22nd. UBS Group decreased their price target on shares of Canadian Solar from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Wells Fargo & Company decreased their price target on shares of Canadian Solar from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 3rd. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $11.64.

Canadian Solar Stock Down 0.6%

Shares of CSIQ opened at $11.70 on Friday. The company has a 50-day simple moving average of $11.64 and a 200-day simple moving average of $10.52. The firm has a market capitalization of $783.55 million, a P/E ratio of -19.50 and a beta of 1.16. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.87 and a current ratio of 1.09. Canadian Solar has a 52 week low of $6.57 and a 52 week high of $19.55.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings data on Thursday, August 21st. The solar energy provider reported ($0.53) earnings per share for the quarter, missing the consensus estimate of $0.76 by ($1.29). The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.90 billion. Canadian Solar had a negative return on equity of 4.97% and a negative net margin of 0.12%.Canadian Solar’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.02 EPS. Canadian Solar has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities research analysts expect that Canadian Solar will post -0.23 earnings per share for the current year.

Institutional Trading of Canadian Solar

Several hedge funds and other institutional investors have recently bought and sold shares of CSIQ. CANADA LIFE ASSURANCE Co grew its holdings in shares of Canadian Solar by 38.6% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 8,094 shares of the solar energy provider’s stock valued at $89,000 after purchasing an additional 2,254 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Canadian Solar during the 2nd quarter valued at approximately $790,000. Raymond James Financial Inc. bought a new stake in shares of Canadian Solar during the 2nd quarter valued at approximately $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Canadian Solar by 20.9% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 842,703 shares of the solar energy provider’s stock valued at $9,539,000 after purchasing an additional 145,867 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Canadian Solar by 141.9% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 9,100 shares of the solar energy provider’s stock valued at $100,000 after purchasing an additional 5,338 shares during the last quarter. Institutional investors and hedge funds own 52.36% of the company’s stock.

Canadian Solar Company Profile

Canadian Solar Inc, together with its subsidiaries, provides solar energy and battery energy storage products and solutions in in Asia, the Americas, Europe, and internationally. The company operates through two segments, CSI Solar and Recurrent Energy. The CSI Solar segment designs, develops, and manufactures solar ingots, wafers, cells, modules, and other solar power and battery storage products.