Canadian Solar (NASDAQ:CSIQ) Shares Gap Up - Here's Why

Key Points

• Shares of Canadian Solar Inc. gapped up from $13.38 to $14.40 before trading, reflecting a significant move influenced by market activity.
• Wall Street analysts have varied ratings on the stock, with a consensus rating of "Hold" and a price target averaging $11.77, reflecting differing views on the company's future prospects.
• Canadian Solar reported a larger-than-expected loss of ($0.53) EPS for its recent quarter, falling short of analyst estimates of $0.76 and leading to concerns about its financial performance.

Shares of Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $13.38, but opened at $14.40. Canadian Solar shares last traded at $14.50, with a volume of 614,193 shares.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CSIQ shares. JPMorgan Chase & Co. lifted their price objective on Canadian Solar from $7.00 to $8.00 and gave the stock an "underweight" rating in a report on Friday, September 19th. UBS Group lowered their price objective on Canadian Solar from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Wednesday, September 17th. Wells Fargo & Company lowered their target price 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. Citigroup lowered their target price on Canadian Solar from $12.50 to $11.00 and set a "neutral" rating on the stock in a report on Thursday, August 21st. Finally, Wall Street Zen upgraded Canadian Solar from a "sell" rating to a "hold" rating in a report on Friday, September 26th. Three 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, Canadian Solar presently has a consensus rating of "Hold" and a consensus price target of $11.77.

Canadian Solar Stock Up 7.4%

The stock has a market capitalization of $962.36 million, a price-to-earnings ratio of -23.97 and a beta of 1.28. The business has a fifty day moving average of $12.07 and a 200 day moving average of $10.95. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.09 and a quick ratio of 0.87.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in Canadian Solar during the second quarter worth $33,000. Caitong International Asset Management Co. Ltd purchased a new position in Canadian Solar in the first quarter valued at $39,000. Summit Securities Group LLC boosted its holdings in 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 valued at $61,000 after purchasing an additional 6,015 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in 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 valued at $89,000 after purchasing an additional 2,254 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in 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 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.

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