Canadian Solar (NASDAQ:CSIQ) Price Target Cut to $15.00 by Analysts at UBS Group

Key Points

• UBS Group has lowered the price target for Canadian Solar from $17.00 to $15.00, while maintaining a "buy" rating, indicating a potential upside of 21.41% from the current stock price.
• Other analysts have downgraded Canadian Solar's stock recently, with Zacks Research moving from a "hold" to a "strong sell" and Wells Fargo cutting their price target to $10.00.
• The company's latest quarterly earnings report showed a loss of ($0.53) per share, significantly missing analysts' expectations, with revenue reported at $1.69 billion against an expected $1.90 billion.

Canadian Solar (NASDAQ:CSIQ - Free Report) had its target price lowered by UBS Group from $17.00 to $15.00 in a research note published on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has a buy rating on the solar energy provider's stock.

A number of other research analysts also recently issued reports on CSIQ. Wall Street Zen downgraded shares of Canadian Solar from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. Zacks Research downgraded shares of Canadian Solar from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 21st. 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 report on Friday, August 22nd. Citigroup cut their target price on shares of Canadian Solar from $12.50 to $11.00 and set a "neutral" rating on the stock in a research report on Thursday, August 21st. Finally, Wells Fargo & Company cut their price target on shares of Canadian Solar from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Wednesday, September 3rd. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $11.64.

Canadian Solar Trading Down 0.6%

Canadian Solar stock traded down $0.07 during trading hours on Wednesday, reaching $11.70. 3,321,297 shares of the company's stock traded hands, compared to its average volume of 1,872,724. 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 has a fifty-two week low of $6.57 and a fifty-two week high of $19.55. The firm has a market capitalization of $783.55 million, a price-to-earnings ratio of -19.50 and a beta of 1.16. The firm's 50 day moving average is $11.64 and its 200-day moving average is $10.52.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last released its earnings results on Thursday, August 21st. The solar energy provider reported ($0.53) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($1.29). Canadian Solar had a negative net margin of 0.12% and a negative return on equity of 4.97%. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the previous year, the company posted $0.02 earnings per share. The business'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. On average, analysts predict that Canadian Solar will post -0.23 earnings per share for the current year.

Institutional Trading of Canadian Solar

Hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new stake in Canadian Solar during the 2nd quarter worth approximately $33,000. Caitong International Asset Management Co. Ltd acquired a new stake in Canadian Solar during the 1st quarter worth approximately $39,000. Summit Securities Group LLC raised its holdings in Canadian Solar by 598.5% during the 1st 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 period. CANADA LIFE ASSURANCE Co raised 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 worth $89,000 after buying an additional 2,254 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Canadian Solar by 141.9% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 9,100 shares of the solar energy provider's stock worth $100,000 after buying an additional 5,338 shares during the period. 52.36% of the stock is currently owned by institutional investors and hedge funds.

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.