Canadian Solar (NASDAQ:CSIQ) Hits New 1-Year High - What's Next?
Canadian Solar Inc. (NASDAQ:CSIQ — Get Free Report)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $18.29 and last traded at $18.2540, with a volume of 3017547 shares. The stock had previously closed at $15.16.
Analysts Set New Price Targets
A number of research firms have issued reports on CSIQ. Weiss Ratings reiterated a “sell (d)” rating on shares of Canadian Solar in a report on Wednesday, October 8th. JPMorgan Chase & Co. increased their price objective on shares of Canadian Solar from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Thursday, October 16th. Zacks Research raised Canadian Solar from a “strong sell” rating to a “hold” rating in a report on Friday, September 19th. Wells Fargo & Company decreased their price target on Canadian Solar from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Wednesday, September 3rd. Finally, UBS Group decreased their price target on Canadian Solar from $17.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, September 17th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Canadian Solar presently has a consensus rating of “Reduce” and a consensus price target of $11.89.
Get Our Latest Stock Analysis on CSIQ
Canadian Solar Price Performance
The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.87 and a current ratio of 1.09. The stock’s 50-day moving average is $12.80 and its 200 day moving average is $11.53. The stock has a market capitalization of $1.21 billion, a PE ratio of -30.17 and a beta of 1.28.
Canadian Solar (NASDAQ:CSIQ — Get Free Report) last posted its earnings results on Thursday, August 21st. The solar energy provider reported ($0.53) 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%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the business earned $0.02 earnings per share. Canadian Solar has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities analysts expect that Canadian Solar Inc. will post -0.23 earnings per share for the current year.
Institutional Trading of Canadian Solar
Several hedge funds and other institutional investors have recently made changes to their positions in CSIQ. Raymond James Financial Inc. purchased a new stake in shares of Canadian Solar in the second quarter valued at about $33,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Canadian Solar in the first quarter valued at about $39,000. Summit Securities Group LLC boosted its holdings in shares of Canadian Solar by 598.5% in the first quarter. Summit Securities Group LLC now owns 7,020 shares of the solar energy provider’s stock valued at $61,000 after acquiring an additional 6,015 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Canadian Solar by 38.6% in the second quarter. CANADA LIFE ASSURANCE Co now owns 8,094 shares of the solar energy provider’s stock valued at $89,000 after acquiring an additional 2,254 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of 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 acquiring an additional 5,338 shares in the last quarter. Hedge funds and other 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.
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