Canadian Solar (NASDAQ:CSIQ) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Canadian Solar (NASDAQ:CSIQ) from a sell rating to a hold rating in a research report report published on Friday morning.

Other research analysts have also issued reports about the company. UBS Group decreased their price objective on Canadian Solar from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Citigroup cut their target price on Canadian Solar from $12.50 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, August 21st. JPMorgan Chase & Co. upped their price objective on Canadian Solar from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Friday, September 19th. Zacks Research raised Canadian Solar from a “strong sell” rating to a “hold” rating in a report on Friday, September 19th. Finally, Mizuho lowered their target price on Canadian Solar from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, August 22nd. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Canadian Solar presently has a consensus rating of “Hold” and an average target price of $11.64.

Canadian Solar Stock Down 2.6%

NASDAQ:CSIQ opened at $12.95 on Friday. The firm has a market capitalization of $867.26 million, a price-to-earnings ratio of -21.58 and a beta of 1.16. Canadian Solar has a twelve month low of $6.57 and a twelve month high of $19.55. The stock’s 50 day moving average price is $11.66 and its two-hundred day moving average price is $10.62. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.98.

Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings results 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 company 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%.The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the firm earned $0.02 EPS. Canadian Solar has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts expect that Canadian Solar will post -0.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CSIQ. Raymond James Financial Inc. bought a new position in shares of Canadian Solar in the second quarter valued at approximately $33,000. Caitong International Asset Management Co. Ltd purchased a new stake in Canadian Solar in the first quarter worth $39,000. Summit Securities Group LLC increased its position in Canadian Solar by 598.5% in the first quarter. Summit Securities Group LLC now owns 7,020 shares of the solar energy provider’s stock worth $61,000 after buying an additional 6,015 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in Canadian Solar by 38.6% in the second quarter. CANADA LIFE ASSURANCE Co now owns 8,094 shares of the solar energy provider’s stock worth $89,000 after buying an additional 2,254 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Canadian Solar by 141.9% in the second 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 in the last quarter. Institutional investors own 52.36% of the company’s stock.

About Canadian Solar

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.