Weiss Ratings Reaffirms "Sell (D)" Rating for Canadian Solar (NASDAQ:CSIQ)

Key Points

• The stock analysts at Weiss Ratings have reiterated a "sell (D)" rating for Canadian Solar (NASDAQ:CSIQ), indicating ongoing concerns about its performance.
• Canadian Solar's shares recently traded down 1.0% to $14.29, amidst a mixed consensus rating from analysts that includes three Buy ratings and four Hold ratings.
• The company's recent earnings report showed a significant miss in earnings per share, reporting ($0.53) against an expectation of $0.76, alongside revenues of $1.69 billion, below the anticipated $1.90 billion.

Canadian Solar (NASDAQ:CSIQ - Get Free Report)'s stock had its "sell (d)" rating reiterated by stock analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

CSIQ has been the topic of several other reports. Mizuho dropped their price objective 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. JPMorgan Chase & Co. upped their target price on shares of Canadian Solar from $7.00 to $8.00 and gave the stock an "underweight" rating in a research report on Friday, September 19th. Wall Street Zen raised shares of Canadian Solar from a "sell" rating to a "hold" rating in a research note on Friday, September 26th. Zacks Research raised shares of Canadian Solar from a "strong sell" rating to a "hold" rating in a research note on Friday, September 19th. Finally, Wells Fargo & Company lowered their price objective on shares of 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 analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $11.77.

Canadian Solar Stock Down 1.0%

Shares of NASDAQ:CSIQ traded down $0.14 during trading on Wednesday, hitting $14.29. 1,354,079 shares of the company were exchanged, compared to its average volume of 1,692,650. The stock has a market capitalization of $957.00 million, a P/E ratio of -23.82 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 has a 12-month low of $6.57 and a 12-month high of $16.33. The firm's 50 day moving average price is $11.89 and its 200-day moving average price is $10.85.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last issued 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). The company had revenue of $1.69 billion for the quarter, compared to analysts' expectations of $1.90 billion. Canadian Solar had a negative return on equity of 4.97% and a negative net margin of 0.12%.The firm's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.02 EPS. Canadian Solar has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, research analysts predict that Canadian Solar will post -0.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co lifted its holdings in shares of 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 acquiring an additional 2,254 shares during the period. Balyasny Asset Management L.P. purchased a new position in shares of Canadian Solar during the 2nd quarter worth about $790,000. Raymond James Financial Inc. purchased a new position in shares of Canadian Solar during the 2nd quarter worth about $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Canadian Solar by 20.9% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 842,703 shares of the solar energy provider's stock valued at $9,539,000 after buying an additional 145,867 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Canadian Solar by 141.9% in 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 valued at $100,000 after buying an additional 5,338 shares during the period. 52.36% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.