Canadian Solar (NASDAQ:CSIQ) Shares Gap Up – What’s Next?

by · The Cerbat Gem

Canadian Solar Inc. (NASDAQ:CSIQ – Get Free Report)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $27.15, but opened at $29.94. Canadian Solar shares last traded at $28.9110, with a volume of 3,136,104 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CSIQ. UBS Group lifted their price target on Canadian Solar from $15.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, November 19th. The Goldman Sachs Group raised their price objective on Canadian Solar from $9.00 to $10.00 and gave the company a “sell” rating in a report on Wednesday, October 8th. Weiss Ratings restated a “sell (d+)” rating on shares of Canadian Solar in a research report on Tuesday, November 25th. Zacks Research raised Canadian Solar from a “strong sell” rating to a “hold” rating in a research note on Friday, September 19th. Finally, Roth Capital lifted their price target on shares of Canadian Solar from $11.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, November 17th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $18.58.

Read Our Latest Stock Report on CSIQ

Canadian Solar Price Performance

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 stock has a 50 day moving average price of $19.58 and a 200-day moving average price of $14.28. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of -48.00 and a beta of 1.35.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CSIQ. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in 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 purchasing an additional 312 shares during the last quarter. Clear Harbor Asset Management LLC increased its stake in Canadian Solar by 4.7% in the third quarter. Clear Harbor Asset Management LLC now owns 18,075 shares of the solar energy provider’s stock valued at $236,000 after purchasing an additional 805 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Canadian Solar by 11.3% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 21,874 shares of the solar energy provider’s stock worth $189,000 after purchasing an additional 2,217 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position 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 buying an additional 2,254 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of Canadian Solar by 335.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,198 shares of the solar energy provider’s stock valued at $42,000 after buying an additional 2,463 shares in the last quarter. 52.36% of the stock is currently owned by institutional investors and hedge funds.

About Canadian Solar

(Get Free Report)

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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