Canadian Solar (NASDAQ:CSIQ) Cut to "Strong Sell" at Zacks Research

Key Points

• Canadian Solar has been downgraded from a "hold" rating to a "strong sell" by Zacks Research, indicating a significant negative outlook for the stock.
• Analysts have mixed views on Canadian Solar, with recent target price adjustments ranging from $8.00 to $12.50, reflecting uncertainty among equity research analysts.
• The company reported a loss of $0.53 earnings per share last quarter, falling significantly short of analyst estimates, while revenue increased year-over-year.

Zacks Research cut shares of Canadian Solar (NASDAQ:CSIQ - Free Report) from a hold rating to a strong sell rating in a research note released on Thursday, August 21st,Zacks.com reports.

A number of other research analysts have also weighed in on CSIQ. Wells Fargo & Company raised their price objective on shares of Canadian Solar from $10.00 to $11.00 and gave the company an "equal weight" rating in a research note on Friday, May 16th. Roth Capital set a $11.00 price objective on shares of Canadian Solar and gave the company a "neutral" rating in a research note on Friday, May 16th. The Goldman Sachs Group raised their price objective on shares of Canadian Solar from $8.00 to $9.00 and gave the company a "sell" rating in a research note on Friday, May 16th. Citigroup dropped their price objective on shares of Canadian Solar from $12.50 to $11.00 and set a "neutral" rating on the stock in a research note on Thursday, August 21st. Finally, Wall Street Zen lowered shares of Canadian Solar from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $11.86.

Canadian Solar Stock Down 4.0%

Shares of Canadian Solar stock traded down $0.42 during trading hours on Thursday, reaching $9.93. The company's stock had a trading volume of 1,195,132 shares, compared to its average volume of 1,631,062. Canadian Solar has a one year low of $6.57 and a one year high of $19.55. The company has a market capitalization of $664.68 million, a P/E ratio of -16.54 and a beta of 1.35. The stock's fifty day simple moving average is $11.98 and its two-hundred day simple moving average is $10.49. 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 - Get Free Report) last released its quarterly earnings data 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 net margin of 0.12% and a negative return on equity of 4.97%. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period last year, the business posted $0.02 earnings per share. The firm's quarterly revenue 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, research analysts forecast that Canadian Solar will post -0.23 earnings per share for the current year.

Institutional Trading of Canadian Solar

A number of large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new position in shares of Canadian Solar in the second quarter worth about $33,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Canadian Solar in the first quarter worth about $39,000. Wells Fargo & Company MN increased its stake in shares of Canadian Solar by 184.0% in the fourth quarter. Wells Fargo & Company MN now owns 5,166 shares of the solar energy provider's stock worth $57,000 after purchasing an additional 3,347 shares in the last quarter. Summit Securities Group LLC increased its stake in shares of Canadian Solar by 598.5% in the first quarter. Summit Securities Group LLC now owns 7,020 shares of the solar energy provider's stock worth $61,000 after purchasing an additional 6,015 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of Canadian Solar by 38.6% in the second quarter. CANADA LIFE ASSURANCE Co now owns 8,094 shares of the solar energy provider's stock worth $89,000 after purchasing an additional 2,254 shares in the last quarter. Hedge funds and other institutional investors 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.