Canadian Solar (NASDAQ:CSIQ) Reaches New 1-Year High - Here's Why

Key Points

• Canadian Solar Inc. (NASDAQ:CSIQ) reached a new 52-week high of $16.86 during mid-day trading, showing a significant recovery from a previous close of $15.72.
• Analysts have mixed opinions on the stock, with three issuing 'Buy' ratings, four 'Hold' ratings, and three 'Sell' ratings, resulting in an average rating of 'Hold' and a consensus target price of $11.77.
• The company's latest earnings report revealed a loss of ($0.53) earnings per share, missing analyst expectations, even as revenue increased 3.6% year-over-year, totaling $1.69 billion.

Shares of Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $16.45 and last traded at $16.86, with a volume of 176831 shares. The stock had previously closed at $15.72.

Analysts Set New Price Targets

A number of equities analysts have commented on CSIQ shares. Weiss Ratings restated a "sell (d)" rating on shares of Canadian Solar in a research note on Wednesday, October 8th. 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 note on Thursday, August 21st. Wall Street Zen upgraded shares of Canadian Solar from a "sell" rating to a "hold" rating in a report on Friday, September 26th. UBS Group decreased their price objective on shares of Canadian Solar from $17.00 to $15.00 and set a "buy" rating for the company in a report on Wednesday, September 17th. 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. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $11.77.

Canadian Solar Stock Up 1.0%

The firm's 50 day simple moving average is $12.20 and its two-hundred day simple moving average is $11.02. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -26.75 and a beta of 1.28. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.98.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($1.29). The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.90 billion. Canadian Solar had a negative return on equity of 4.97% and a negative net margin of 0.12%.Canadian Solar's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.02 earnings per share. Canadian Solar has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts forecast that Canadian Solar Inc. will post -0.23 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CSIQ. CANADA LIFE ASSURANCE Co raised its holdings 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 worth $89,000 after buying an additional 2,254 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Canadian Solar in the second quarter valued at about $790,000. Raymond James Financial Inc. purchased a new stake in shares of Canadian Solar in the second quarter valued at about $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Canadian Solar by 20.9% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 842,703 shares of the solar energy provider's stock valued at $9,539,000 after purchasing an additional 145,867 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of Canadian Solar by 141.9% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 9,100 shares of the solar energy provider's stock valued at $100,000 after purchasing an additional 5,338 shares during the last quarter. 52.36% of the stock is owned by institutional investors.

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.

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