Canadian Solar Target of Unusually Large Options Trading (NASDAQ:CSIQ)

Key Points

• Canadian Solar Inc. experienced a significant surge in options trading, with 8,476 call options purchased on Wednesday, marking a 168% increase from the typical volume.
• The company's stock rose by $1.35 to $14.39, with a 12-month range between $6.57 and $19.55, and a market capitalization of approximately $963.63 million.
• Canadian Solar reported a quarterly earnings loss of ($0.53) per share, missing analyst expectations, and had a revenue of $1.69 billion, lower than the consensus estimate of $1.90 billion.

Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report) saw some unusual options trading activity on Wednesday. Investors bought 8,476 call options on the stock. This represents an increase of approximately 168% compared to the typical volume of 3,159 call options.

Canadian Solar Price Performance

Shares of CSIQ stock traded up $1.35 during trading hours on Wednesday, reaching $14.39. The stock had a trading volume of 1,534,094 shares, compared to its average volume of 1,663,645. The stock's fifty day simple moving average is $11.65 and its 200 day simple moving average is $10.68. 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 has a 12 month low of $6.57 and a 12 month high of $19.55. The firm has a market capitalization of $963.63 million, a PE ratio of -23.92 and a beta of 1.16.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last released its quarterly earnings data 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 net margin of 0.12% and a negative return on equity of 4.97%. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter last year, the business posted $0.02 earnings per share. Canadian Solar'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. On average, equities research analysts predict that Canadian Solar will post -0.23 EPS for the current year.

Analyst Upgrades and Downgrades

CSIQ has been the subject of a number of research analyst reports. Mizuho decreased their price objective on shares of Canadian Solar from $17.00 to $15.00 and set an "outperform" rating for the company in a report on Friday, August 22nd. JPMorgan Chase & Co. raised their price objective on shares of Canadian Solar from $7.00 to $8.00 and gave the stock an "underweight" rating in a report on Friday, September 19th. Wells Fargo & Company decreased their price objective on shares of Canadian Solar from $11.00 to $10.00 and set an "equal weight" rating for the company in a report on Wednesday, September 3rd. UBS Group decreased their price objective on shares of Canadian Solar from $17.00 to $15.00 and set a "buy" rating for the company in a report on Wednesday, September 17th. Finally, Zacks Research upgraded shares of Canadian Solar from a "strong sell" rating to a "hold" rating in a research report on Friday, September 19th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Canadian Solar has an average rating of "Hold" and a consensus price target of $11.64.

Institutional Investors Weigh In On Canadian Solar

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co raised its stake 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 in the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Canadian Solar during the second quarter worth approximately $790,000. Raymond James Financial Inc. purchased a new position in shares of Canadian Solar during the second quarter worth approximately $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Canadian Solar by 20.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 842,703 shares of the solar energy provider's stock worth $9,539,000 after acquiring an additional 145,867 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Canadian Solar by 141.9% during 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 worth $100,000 after acquiring an additional 5,338 shares in the last quarter. 52.36% of the stock is owned by hedge funds and other institutional investors.

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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