Canadian Solar (NASDAQ:CSIQ) Sets New 12-Month High – What’s Next?

Canadian Solar Inc. (NASDAQ:CSIQ) shares hit a new 52-week high on Monday . The stock traded as high as $30.34 and last traded at $30.2250, with a volume of 361190 shares trading hands. The stock had previously closed at $28.47.

Analyst Upgrades and Downgrades

CSIQ has been the subject of a number of research reports. UBS Group cut their target price on shares of Canadian Solar from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, September 17th. Zacks Research raised shares of Canadian Solar from a “strong sell” rating to a “hold” rating in a report on Friday, September 19th. Mizuho cut their price objective 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. The Goldman Sachs Group upped their target price on Canadian Solar from $9.00 to $10.00 and gave the company a “sell” rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Canadian Solar in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $12.58.

Canadian Solar Stock Down 4.5%

The stock has a 50-day moving average of $15.54 and a 200-day moving average of $12.71. 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 $1.91 billion, a price-to-earnings ratio of -47.43 and a beta of 1.35.

Canadian Solar (NASDAQ:CSIQ) last released its earnings results on Thursday, August 21st. The solar energy provider reported ($0.53) earnings per share (EPS) 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 analyst estimates of $1.90 billion. Canadian Solar had a negative return on equity of 4.97% and a negative net margin of 0.12%.The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the company posted $0.02 earnings per share. Canadian Solar has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts predict that Canadian Solar Inc. will post -0.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CSIQ. IvyRock Asset Management HK Ltd increased its position in Canadian Solar by 87.8% during the 1st quarter. IvyRock Asset Management HK Ltd now owns 2,607,700 shares of the solar energy provider’s stock worth $22,557,000 after purchasing an additional 1,219,200 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Canadian Solar by 38.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 251,204 shares of the solar energy provider’s stock worth $2,173,000 after buying an additional 70,412 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new position in shares of Canadian Solar during the second quarter worth $382,000. Aberdeen Group plc lifted its stake in shares of Canadian Solar by 109.2% in the 1st quarter. Aberdeen Group plc now owns 97,145 shares of the solar energy provider’s stock valued at $840,000 after acquiring an additional 50,714 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of Canadian Solar by 52.2% during the 1st quarter. Cerity Partners LLC now owns 374,966 shares of the solar energy provider’s stock valued at $3,243,000 after acquiring an additional 128,669 shares in the last quarter. Institutional investors and hedge funds own 52.36% of the company’s stock.

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.