Canadian Solar (NASDAQ:CSIQ) Trading Down 7.7% - Here's What Happened

Key Points

• Canadian Solar shares fell by 7.7%, trading as low as $14.76, with a significant decline in trading volume compared to its average session.
• Equities analysts have mixed ratings for Canadian Solar, with three analysts giving a Buy rating, four a Hold rating, and three a Sell rating.
• The company reported disappointing Q2 earnings, missing EPS estimates by $1.29 and generating revenue of $1.69 billion against an anticipated $1.90 billion.

Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report)'s share price traded down 7.7% during trading on Friday . The company traded as low as $14.76 and last traded at $14.74. 467,919 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 1,696,114 shares. The stock had previously closed at $15.97.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Canadian Solar in a research note on Wednesday. Wall Street Zen raised Canadian Solar from a "sell" rating to a "hold" rating in a research report on Friday, September 26th. Mizuho dropped their price target on Canadian Solar from $17.00 to $15.00 and set an "outperform" rating on the stock in a research report on Friday, August 22nd. UBS Group dropped their target price on Canadian Solar from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Wednesday, September 17th. Finally, Wells Fargo & Company dropped their price objective on shares of Canadian Solar from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Wednesday, September 3rd. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $11.77.

Canadian Solar Trading Down 9.2%

The company has a market capitalization of $971.13 million, a price-to-earnings ratio of -23.99 and a beta of 1.28. The company has a 50-day moving average price of $12.03 and a 200-day moving average price of $10.91. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.98.

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 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 period last year, the business earned $0.02 earnings per share. The firm's quarterly revenue was up 3.6% compared to the same quarter last year. Canadian Solar has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Research analysts predict that Canadian Solar Inc. will post -0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Canadian Solar

Institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new stake in Canadian Solar in the 2nd quarter valued at $33,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Canadian Solar in the 1st quarter valued at $39,000. Summit Securities Group LLC lifted 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 valued at $61,000 after purchasing an additional 6,015 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted 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 valued at $89,000 after purchasing an additional 2,254 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted 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 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 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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