Canadian Solar (NASDAQ:CSIQ) Share Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Canadian Solar's share price recently surpassed its 200-day moving average, reaching a high of $16.00 before closing at $15.72 with a significant trading volume of 4,258,318 shares.
• Analysts are mixed on Canadian Solar's outlook, with recent target price adjustments ranging from Wells Fargo's reduction to $10.00 to Goldman Sachs' boost to $10.00, resulting in a consensus rating of "Hold."
• The company's most recent quarterly earnings report showed a loss of ($0.53) per share, falling short of analysts' expectations and reflecting a negative net margin of 0.12% despite a year-over-year revenue increase.

Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.02 and traded as high as $16.00. Canadian Solar shares last traded at $15.72, with a volume of 4,258,318 shares traded.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CSIQ shares. Wells Fargo & Company reduced their target price on 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. Citigroup decreased their price objective on shares of Canadian Solar from $12.50 to $11.00 and set a "neutral" rating for the company in a research report on Thursday, August 21st. The Goldman Sachs Group boosted their target price on shares of Canadian Solar from $9.00 to $10.00 and gave the stock a "sell" rating in a research report on Wednesday, October 8th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Canadian Solar in a report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Canadian Solar from a "strong sell" rating to a "hold" rating in a research note on Friday, September 19th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $11.77.

Canadian Solar Price Performance

The firm has a market capitalization of $1.05 billion, a PE ratio of -26.20 and a beta of 1.28. The firm's fifty day moving average price is $12.20 and its 200 day moving average price is $11.02. 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 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 analysts' expectations of $1.90 billion. Canadian Solar had a negative net margin of 0.12% and a negative return on equity of 4.97%. The business's quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.02 EPS. Canadian Solar has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities analysts forecast that Canadian Solar Inc. will post -0.23 earnings per share for the current year.

Hedge Funds Weigh In On Canadian Solar

A number of large investors have recently bought and sold shares of the business. IvyRock Asset Management HK Ltd grew its holdings in Canadian Solar by 87.8% in the first quarter. IvyRock Asset Management HK Ltd now owns 2,607,700 shares of the solar energy provider's stock valued at $22,557,000 after purchasing an additional 1,219,200 shares during the period. Greenwoods Asset Management Hong Kong Ltd. lifted its position in shares of Canadian Solar by 60.4% during the 1st quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 1,115,861 shares of the solar energy provider's stock valued at $9,652,000 after buying an additional 420,000 shares in the last quarter. Mackenzie Financial Corp grew its stake in Canadian Solar by 7.4% in the 2nd quarter. Mackenzie Financial Corp now owns 5,884,865 shares of the solar energy provider's stock valued at $64,969,000 after acquiring an additional 405,800 shares during the period. Legal & General Group Plc increased its holdings in Canadian Solar by 21.7% in the 2nd quarter. Legal & General Group Plc now owns 1,815,113 shares of the solar energy provider's stock worth $20,039,000 after acquiring an additional 324,254 shares in the last quarter. Finally, Invesco Ltd. raised its position in Canadian Solar by 15.5% during the first quarter. Invesco Ltd. now owns 2,311,596 shares of the solar energy provider's stock worth $19,995,000 after acquiring an additional 310,564 shares during the period. Institutional investors and hedge funds 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.

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