Canadian Solar (NASDAQ:CSIQ) Reaches New 1-Year High on Analyst Upgrade

Canadian Solar Inc. (NASDAQ:CSIQ) shares reached a new 52-week high during trading on Monday after Roth Capital raised their price target on the stock from $11.00 to $30.00. Roth Capital currently has a neutral rating on the stock. Canadian Solar traded as high as $34.59 and last traded at $31.6880, with a volume of 11722086 shares. The stock had previously closed at $28.62.

CSIQ has been the subject of a number of other research reports. UBS Group lowered their target price on Canadian Solar from $17.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, September 17th. JPMorgan Chase & Co. boosted their price target on Canadian Solar from $9.00 to $10.00 and gave the stock an “underweight” rating in a research report on Friday. Wells Fargo & Company dropped their price objective on Canadian Solar from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 3rd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Canadian Solar in a research note on Thursday. Finally, Mizuho decreased their price target on shares of Canadian Solar from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Friday, August 22nd. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $15.08.

Institutional Investors Weigh In On Canadian Solar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Canadian Solar by 7.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,796 shares of the solar energy provider’s stock worth $63,000 after acquiring an additional 312 shares during the last quarter. Clear Harbor Asset Management LLC boosted its stake in Canadian Solar by 4.7% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 18,075 shares of the solar energy provider’s stock worth $236,000 after purchasing an additional 805 shares in the last quarter. Templeton & Phillips Capital Management LLC grew its position in Canadian Solar by 14.6% during the 1st quarter. Templeton & Phillips Capital Management LLC now owns 14,481 shares of the solar energy provider’s stock worth $125,000 after purchasing an additional 1,843 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Canadian Solar by 11.3% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 21,874 shares of the solar energy provider’s stock valued at $189,000 after purchasing an additional 2,217 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its stake 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 valued at $89,000 after purchasing an additional 2,254 shares in the last quarter. 52.36% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Solar Trading Down 11.5%

The stock’s fifty day simple moving average is $16.74 and its 200-day simple moving average is $13.15. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.09 and a quick ratio of 0.87. The firm has a market cap of $1.99 billion, a PE ratio of -51.02 and a beta of 1.35.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings data on Thursday, November 13th. The solar energy provider reported ($0.58) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.08) by $0.50. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.37 billion. Canadian Solar had a negative net margin of 0.12% and a negative return on equity of 4.97%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.31) earnings per share. Canadian Solar has set its Q4 2025 guidance at EPS. On average, sell-side analysts forecast that Canadian Solar Inc. will post -0.23 earnings per share for the current year.

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.