Canadian Solar (NASDAQ:CSIQ) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Canadian Solar (NASDAQ:CSIQ) had its target price upped by JPMorgan Chase & Co. from $8.00 to $9.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the solar energy provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 38.31% from the company’s previous close.

CSIQ has been the subject of several other research reports. Zacks Research upgraded shares of Canadian Solar from a “strong sell” rating to a “hold” rating in a research report on Friday, September 19th. The Goldman Sachs Group upped their target price on shares of Canadian Solar from $9.00 to $10.00 and gave the stock a “sell” rating in a research report on Wednesday, October 8th. Wells Fargo & Company decreased their target price on shares of Canadian Solar from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 3rd. Citigroup decreased their price objective on shares of Canadian Solar from $12.50 to $11.00 and set a “neutral” rating for the company in a report on Thursday, August 21st. Finally, Mizuho decreased their price objective on shares of Canadian Solar from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, August 22nd. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $11.89.

Canadian Solar Price Performance

NASDAQ CSIQ opened at $14.59 on Thursday. Canadian Solar has a 52 week low of $6.57 and a 52 week high of $17.07. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.98. The stock has a market cap of $977.09 million, a price-to-earnings ratio of -24.32 and a beta of 1.28. The company has a 50-day moving average price of $12.41 and a two-hundred day moving average price of $11.14.

Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Thursday, August 21st. The solar energy provider reported ($0.53) EPS for the quarter, missing the consensus estimate of $0.76 by ($1.29). Canadian Solar had a negative return on equity of 4.97% and a negative net margin of 0.12%.The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter last year, the company posted $0.02 EPS. Canadian Solar’s revenue for the quarter was up 3.6% on a year-over-year basis. Canadian Solar has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Analysts forecast that Canadian Solar will post -0.23 EPS for the current year.

Institutional Trading of Canadian Solar

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

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.