Canadian Solar (NASDAQ:CSIQ) Stock Price Up 8.2% - Here's What Happened

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 stock price was up 8.2% on Monday . The stock traded as high as $11.60 and last traded at $11.78. Approximately 915,939 shares were traded during 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

Several analysts recently weighed in on CSIQ shares. Zacks Research cut Canadian Solar from a "hold" rating to a "strong sell" rating in a report on Thursday, August 21st. Mizuho reduced their target price on Canadian Solar from $17.00 to $15.00 and set an "outperform" rating on the stock in a report on Friday, August 22nd. UBS Group reduced 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. Wall Street Zen lowered Canadian Solar from a "hold" rating to a "sell" rating in a research note on Saturday, August 30th. Finally, Wells Fargo & Company decreased their price target on 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 equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $11.64.

Canadian Solar Stock Performance

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.87 and a current ratio of 1.09. The company has a market cap of $783.55 million, a price-to-earnings ratio of -19.50 and a beta of 1.16. The company has a fifty day moving average of $11.64 and a two-hundred day moving average of $10.52.

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 the consensus estimate of $0.76 by ($1.29). Canadian Solar had a negative net margin of 0.12% and a negative return on equity of 4.97%. 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 EPS. The company's 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. Equities research analysts anticipate that Canadian Solar Inc. will post -0.23 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CSIQ. Raymond James Financial Inc. acquired a new position in Canadian Solar during the 2nd quarter worth about $33,000. Caitong International Asset Management Co. Ltd acquired a new position in Canadian Solar during the 1st quarter worth about $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 worth $61,000 after buying an additional 6,015 shares during the period. 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 worth $89,000 after buying an additional 2,254 shares during the period. 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 worth $100,000 after buying an additional 5,338 shares during the period. 52.36% of the stock is owned by institutional investors and hedge funds.

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.