The Goldman Sachs Group Forecasts Strong Price Appreciation for Canadian Solar (NASDAQ:CSIQ) Stock

Key Points

• The Goldman Sachs Group has raised its target price for Canadian Solar (NASDAQ:CSIQ) from $9.00 to $10.00, indicating a potential downside of 29.98% from the current stock price.
• Multiple analysts have issued varied ratings, with a consensus of three "buy," four "hold," and three "sell" ratings, leading to an average target price of $11.77.
• Shares of Canadian Solar have been volatile, trading down to $14.28 with a 52-week range between $6.57 and $16.33, showing a negative earnings per share of (0.53) in the latest quarter.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) had its target price boosted by research analysts at The Goldman Sachs Group from $9.00 to $10.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "sell" rating on the solar energy provider's stock. The Goldman Sachs Group's price objective suggests a potential downside of 29.98% from the stock's current price.

Other analysts have also recently issued reports about the stock. UBS Group dropped their price target on shares of Canadian Solar from $17.00 to $15.00 and set a "buy" rating on the stock in a research note on Wednesday, September 17th. JPMorgan Chase & Co. upped their price target on shares of Canadian Solar from $7.00 to $8.00 and gave the company an "underweight" rating in a research note on Friday, September 19th. Zacks Research upgraded shares of Canadian Solar from a "strong sell" rating to a "hold" rating in a research note on Friday, September 19th. Wall Street Zen upgraded shares of Canadian Solar from a "sell" rating to a "hold" rating in a research note on Friday, September 26th. Finally, Mizuho lowered their target price on shares of Canadian Solar from $17.00 to $15.00 and set an "outperform" rating on the stock in a research note on Friday, August 22nd. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $11.77.

Canadian Solar Stock Performance

Shares of Canadian Solar stock traded down $0.15 on Wednesday, reaching $14.28. 1,060,820 shares of the company traded hands, compared to its average volume of 1,689,994. Canadian Solar has a 52 week low of $6.57 and a 52 week high of $16.33. The company has a 50 day moving average of $11.89 and a 200 day moving average of $10.85. The firm has a market capitalization of $956.47 million, a PE ratio of -23.80 and a beta of 1.28. 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 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). The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.90 billion. Canadian Solar had a negative net margin of 0.12% and a negative return on equity of 4.97%. The firm's revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.02 earnings per share. Canadian Solar has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities analysts forecast that Canadian Solar will post -0.23 earnings per share for the current year.

Hedge Funds Weigh In On Canadian Solar

Institutional investors and hedge funds have recently made changes to their positions in the business. IvyRock Asset Management HK Ltd lifted its position in shares of 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 during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Canadian Solar by 38.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 251,204 shares of the solar energy provider's stock worth $2,173,000 after purchasing an additional 70,412 shares during the period. Counterpoint Mutual Funds LLC purchased a new stake in shares of Canadian Solar in the 2nd quarter worth about $382,000. Aberdeen Group plc lifted its position in shares of Canadian Solar by 109.2% in the 1st quarter. Aberdeen Group plc now owns 97,145 shares of the solar energy provider's stock worth $840,000 after purchasing an additional 50,714 shares during the period. Finally, Cerity Partners LLC lifted its position in shares of Canadian Solar by 52.2% in the 1st quarter. Cerity Partners LLC now owns 374,966 shares of the solar energy provider's stock worth $3,243,000 after purchasing an additional 128,669 shares during the period. Institutional investors own 52.36% of the company's stock.

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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