Canadian Solar (NASDAQ:CSIQ) Shares Gap Down – Here’s What Happened

Canadian Solar Inc. (NASDAQ:CSIQ)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $26.42, but opened at $25.46. Canadian Solar shares last traded at $26.7890, with a volume of 5,298,227 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CSIQ shares. Mizuho reaffirmed an “underperform” rating and set a $21.00 target price (up from $15.00) on shares of Canadian Solar in a research report on Wednesday. Zacks Research upgraded shares of Canadian Solar from a “strong sell” rating to a “hold” rating in a research note on Friday, September 19th. The Goldman Sachs Group raised their price objective on shares of Canadian Solar from $9.00 to $10.00 and gave the company a “sell” rating in a research note on Wednesday, October 8th. Citigroup reissued a “sell” rating and set a $11.00 target price on shares of Canadian Solar in a research report on Tuesday, October 21st. Finally, Roth Capital upped their target price on shares of Canadian Solar from $11.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $18.58.

Canadian Solar Price Performance

The company has a market capitalization of $1.78 billion, a P/E ratio of -44.65 and a beta of 1.35. The business’s 50-day moving average is $17.40 and its two-hundred day moving average is $13.40. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.98.

Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Thursday, November 13th. The solar energy provider reported ($0.58) EPS for the quarter, topping the consensus estimate of ($1.08) by $0.50. Canadian Solar had a negative net margin of 0.12% and a negative return on equity of 4.97%. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter last year, the firm earned ($0.31) EPS. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. Canadian Solar has set its Q4 2025 guidance at EPS. As a group, analysts predict that Canadian Solar Inc. will post -0.23 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CSIQ. IvyRock Asset Management HK Ltd lifted its stake in Canadian Solar by 87.8% in the first quarter. IvyRock Asset Management HK Ltd now owns 2,607,700 shares of the solar energy provider’s stock valued at $22,557,000 after purchasing an additional 1,219,200 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Canadian Solar by 38.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 251,204 shares of the solar energy provider’s stock valued at $2,173,000 after buying an additional 70,412 shares during the period. Counterpoint Mutual Funds LLC purchased a new position in shares of Canadian Solar during the 2nd quarter valued at $382,000. Aberdeen Group plc grew its stake in shares of Canadian Solar by 109.2% during the 1st quarter. Aberdeen Group plc now owns 97,145 shares of the solar energy provider’s stock worth $840,000 after acquiring an additional 50,714 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Canadian Solar by 15.5% during the 1st quarter. Invesco Ltd. now owns 2,311,596 shares of the solar energy provider’s stock worth $19,995,000 after acquiring an additional 310,564 shares during the period. Institutional investors 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.