Traders Buy High Volume of Canadian Solar Call Options (NASDAQ:CSIQ)

Canadian Solar Inc. (NASDAQ:CSIQ) was the recipient of some unusual options trading activity on Wednesday. Traders purchased 6,592 call options on the stock. This is an increase of 49% compared to the typical daily volume of 4,433 call options.

Canadian Solar Stock Up 2.1%

Shares of NASDAQ:CSIQ opened at $17.94 on Friday. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -29.90 and a beta of 1.28. Canadian Solar has a 1-year low of $6.57 and a 1-year high of $18.64. The company’s fifty day moving average is $13.05 and its two-hundred day moving average is $11.65. 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 (NASDAQ:CSIQ) last issued its earnings results on Thursday, August 21st. The solar energy provider reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same period last year, the company posted $0.02 earnings per share. The firm’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. Equities analysts anticipate that Canadian Solar will post -0.23 EPS for the current year.

Analyst Upgrades and Downgrades

CSIQ has been the topic of several recent analyst reports. Wall Street Zen raised shares of Canadian Solar from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Zacks Research raised shares of Canadian Solar from a “strong sell” rating to a “hold” rating in a report on Friday, September 19th. JPMorgan Chase & Co. upped their price target on shares of Canadian Solar from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Thursday, October 16th. Citigroup reaffirmed a “sell” rating and issued a $11.00 price target on shares of Canadian Solar in a report on Tuesday, October 21st. Finally, Mizuho cut their price target on shares of Canadian Solar from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, August 22nd. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $11.89.

Institutional Trading of Canadian Solar

A number of large investors have recently modified their holdings of the company. Clear Harbor Asset Management LLC increased its holdings in shares of Canadian Solar by 4.7% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 18,075 shares of the solar energy provider’s stock worth $236,000 after acquiring an additional 805 shares during the period. Templeton & Phillips Capital Management LLC increased its holdings in shares of Canadian Solar by 14.6% in the 1st quarter. Templeton & Phillips Capital Management LLC now owns 14,481 shares of the solar energy provider’s stock worth $125,000 after acquiring an additional 1,843 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Canadian Solar by 11.3% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 21,874 shares of the solar energy provider’s stock worth $189,000 after acquiring an additional 2,217 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in shares of Canadian Solar by 38.6% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 8,094 shares of the solar energy provider’s stock worth $89,000 after acquiring an additional 2,254 shares during the period. Finally, Bryn Mawr Trust Advisors LLC increased its holdings in shares of Canadian Solar by 12.6% in the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 24,650 shares of the solar energy provider’s stock worth $272,000 after acquiring an additional 2,750 shares during the period. 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.