Canadian Solar (NASDAQ:CSIQ) Trading Up 8.2% - Still a Buy?

Key Points

• Canadian Solar's share price increased by 8.2% to $11.78 but experienced a 45% decline in trading volume compared to its average daily volume.
• Research analysts have shown mixed sentiments, with Citigroup lowering its target price from $12.50 to $11.00 and Mizuho cutting it from $17.00 to $15.00.
• The company reported a loss of ($0.53) EPS for the last quarter, missing analyst expectations, with a negative net margin of 0.12% despite a rise in quarterly revenue compared to last year.

Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report)'s share price was up 8.2% on Monday . The company traded as high as $11.60 and last traded at $11.78. Approximately 915,939 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 1,657,561 shares. The stock had previously closed at $10.89.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CSIQ shares. Citigroup decreased their target price 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. Wall Street Zen cut shares of Canadian Solar from a "hold" rating to a "sell" rating in a research note on Saturday, August 30th. Mizuho cut their price target on shares of Canadian Solar from $17.00 to $15.00 and set an "outperform" rating for the company in a research note on Friday, August 22nd. Wells Fargo & Company cut their price target on shares of Canadian Solar from $11.00 to $10.00 and set an "equal weight" rating for the company in a research note on Wednesday, September 3rd. Finally, Zacks Research cut shares of Canadian Solar from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 21st. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Canadian Solar has a consensus rating of "Hold" and an average price target of $11.69.

Canadian Solar Trading Up 10.3%

The business's 50 day moving average price is $11.78 and its 200-day moving average price is $10.46. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.98. The company has a market cap of $804.31 million, a price-to-earnings ratio of -20.02 and a beta of 1.16.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last posted its earnings results 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%.The business's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.02 EPS. Canadian Solar has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts anticipate that Canadian Solar Inc. will post -0.23 EPS for the current fiscal year.

Institutional Trading of Canadian Solar

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Mackenzie Financial Corp raised 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 worth $64,969,000 after purchasing an additional 405,800 shares in the last quarter. IvyRock Asset Management HK Ltd raised its stake in Canadian Solar by 87.8% in the 1st quarter. IvyRock Asset Management HK Ltd now owns 2,607,700 shares of the solar energy provider's stock worth $22,557,000 after purchasing an additional 1,219,200 shares in the last quarter. Invesco Ltd. raised its stake in Canadian Solar by 15.5% in the 1st quarter. Invesco Ltd. now owns 2,311,596 shares of the solar energy provider's stock worth $19,995,000 after purchasing an additional 310,564 shares in the last quarter. Shah Capital Management raised its stake in Canadian Solar by 9.2% in the 1st quarter. Shah Capital Management now owns 1,906,285 shares of the solar energy provider's stock worth $16,489,000 after purchasing an additional 160,739 shares in the last quarter. Finally, Legal & General Group Plc raised its stake 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 purchasing an additional 324,254 shares in the last quarter. 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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