Canadian Solar (NASDAQ:CSIQ) Rating Lowered to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Canadian Solar from a "hold" rating to a "sell" rating, reflecting growing concerns from analysts about the company's performance.
• Several investment firms have revised their price targets for Canadian Solar, with ratings ranging from "buy" to "strong sell", reflecting mixed optimism among analysts.
• In its latest quarterly earnings report, Canadian Solar missed analysts' earnings expectations significantly, reporting a loss of $0.53 EPS compared to the expected $0.76.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

A number of other research analysts have also recently weighed in on the stock. Mizuho dropped 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. Zacks Research cut shares of Canadian Solar from a "hold" rating to a "strong sell" rating in a report on Thursday, August 21st. Citigroup dropped their price objective on shares of Canadian Solar from $12.50 to $11.00 and set a "neutral" rating for the company in a report on Thursday, August 21st. Roth Capital set a $11.00 price objective on shares of Canadian Solar and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, Wells Fargo & Company lifted their price objective on shares of Canadian Solar from $10.00 to $11.00 and gave the company an "equal weight" rating in a report on Friday, May 16th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $11.69.

Canadian Solar Trading Down 0.7%

Shares of Canadian Solar stock traded down $0.07 on Friday, reaching $9.92. The company had a trading volume of 907,649 shares, compared to its average volume of 1,643,619. The firm's 50 day moving average price is $11.93 and its two-hundred day moving average price is $10.48. The firm has a market cap of $664.34 million, a PE ratio of -16.53 and a beta of 1.16. Canadian Solar has a 52-week low of $6.57 and a 52-week high of $19.55. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.87 and a current ratio of 1.09.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last released its quarterly 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 during the quarter, compared to analysts' expectations of $1.90 billion. Canadian Solar had a negative net margin of 0.12% and a negative return on equity of 4.97%. Canadian Solar's revenue was up 3.6% on a year-over-year basis. During the same period last year, the firm posted $0.02 earnings per share. Canadian Solar has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts predict that Canadian Solar will post -0.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CSIQ. Raymond James Financial Inc. acquired a new position in Canadian Solar during the 2nd quarter worth approximately $33,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Canadian Solar in the 1st quarter valued at $39,000. Wells Fargo & Company MN boosted its holdings in shares of Canadian Solar by 184.0% in the 4th quarter. Wells Fargo & Company MN now owns 5,166 shares of the solar energy provider's stock valued at $57,000 after buying an additional 3,347 shares in the last quarter. Summit Securities Group LLC boosted its holdings in shares of Canadian Solar by 598.5% in the 1st quarter. Summit Securities Group LLC now owns 7,020 shares of the solar energy provider's stock valued at $61,000 after buying an additional 6,015 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in shares of Canadian Solar by 38.6% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 8,094 shares of the solar energy provider's stock valued at $89,000 after buying an additional 2,254 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.