Canadian Solar (NASDAQ:CSIQ) Stock Price Up 11.9% After Analyst Upgrade

Canadian Solar Inc. (NASDAQ:CSIQ)’s stock price was up 11.9% during mid-day trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $9.00 to $10.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. Canadian Solar traded as high as $31.18 and last traded at $32.0330. Approximately 3,965,288 shares changed hands during trading, an increase of 83% from the average daily volume of 2,166,787 shares. The stock had previously closed at $28.62.

CSIQ has been the topic of several other reports. Zacks Research raised Canadian Solar from a “strong sell” rating to a “hold” rating in a research note on Friday, September 19th. UBS Group reduced their price objective on shares of Canadian Solar from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, September 17th. Weiss Ratings restated a “sell (d)” rating on shares of Canadian Solar in a report on Wednesday, October 8th. Mizuho cut their target price 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. Finally, Citigroup reiterated a “sell” rating and set a $11.00 price target on shares of Canadian Solar in a research report on Tuesday, October 21st. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $12.71.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Canadian Solar by 7.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,796 shares of the solar energy provider’s stock worth $63,000 after purchasing an additional 312 shares during the period. Clear Harbor Asset Management LLC boosted its position 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 purchasing an additional 805 shares in the last quarter. Templeton & Phillips Capital Management LLC grew its stake 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 buying an additional 1,843 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Canadian Solar by 11.3% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 21,874 shares of the solar energy provider’s stock valued at $189,000 after buying an additional 2,217 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised 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 buying an additional 2,254 shares during the last quarter. 52.36% of the stock is owned by hedge funds and other institutional investors.

Canadian Solar Stock Up 17.3%

The firm has a market capitalization of $2.25 billion, a P/E ratio of -55.97 and a beta of 1.35. The company has a fifty day simple moving average of $16.74 and a 200 day simple moving average of $13.10. 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 issued its quarterly earnings results on Thursday, November 13th. The solar energy provider reported ($0.58) earnings per share for the quarter, beating the consensus estimate of ($1.08) by $0.50. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.37 billion. Canadian Solar had a negative return on equity of 4.97% and a negative net margin of 0.12%.The company’s revenue was down 1.3% on a year-over-year basis. During the same period last year, the company earned ($0.31) earnings per share. Canadian Solar has set its Q4 2025 guidance at EPS. On average, equities analysts expect that Canadian Solar Inc. will post -0.23 EPS for the current fiscal year.

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.