Canadian Solar (NASDAQ:CSIQ) Sees Strong Trading Volume on Analyst Upgrade

Canadian Solar Inc. (NASDAQ:CSIQ) shares saw strong trading volume on Tuesday after Roth Capital raised their price target on the stock from $11.00 to $30.00. Roth Capital currently has a neutral rating on the stock. 1,511,321 shares traded hands during trading, a decline of 32% from the previous session’s volume of 2,236,960 shares.The stock last traded at $26.7640 and had previously closed at $28.47.

Several other brokerages have also weighed in on CSIQ. Citigroup reaffirmed a “sell” rating and issued a $11.00 target price on shares of Canadian Solar in a research report on Tuesday, October 21st. Jefferies Financial Group reissued a “hold” rating and issued a $19.64 price target (up previously from $13.70) on shares of Canadian Solar in a research note on Monday, November 3rd. Wells Fargo & Company dropped their price objective on Canadian Solar from $11.00 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 3rd. JPMorgan Chase & Co. raised their price objective on shares of Canadian Solar from $9.00 to $10.00 and gave the company an “underweight” rating in a research report on Friday, November 14th. Finally, Zacks Research raised shares of Canadian Solar from a “strong sell” rating to a “hold” rating in a research report on Friday, September 19th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, Canadian Solar currently has an average rating of “Reduce” and a consensus target price of $15.08.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CSIQ. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Canadian Solar by 7.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,796 shares of the solar energy provider’s stock valued at $63,000 after buying an additional 312 shares during the last quarter. Clear Harbor Asset Management LLC boosted 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 in the last quarter. Templeton & Phillips Capital Management LLC grew its position in Canadian Solar by 14.6% during 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 last quarter. Northwestern Mutual Wealth Management Co. increased its holdings 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 purchasing an additional 2,217 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in 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 in the last quarter. Institutional investors and hedge funds own 52.36% of the company’s stock.

Canadian Solar Trading Down 7.2%

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.87 and a current ratio of 1.09. The stock has a market cap of $1.77 billion, a P/E ratio of -44.03 and a beta of 1.35. The company has a 50-day simple moving average of $17.40 and a 200-day simple moving average of $13.40.

Canadian Solar (NASDAQ:CSIQ) last announced its earnings results on Thursday, November 13th. The solar energy provider reported ($0.58) EPS for the quarter, topping the consensus estimate of ($1.08) by $0.50. Canadian Solar had a negative return on equity of 4.97% and a negative net margin of 0.12%.The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the prior year, the business earned ($0.31) earnings per share. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. Canadian Solar has set its Q4 2025 guidance at EPS. On average, sell-side analysts forecast 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.