Canadian Solar (NASDAQ:CSIQ) Price Target Raised to $10.00

Canadian Solar (NASDAQ:CSIQ) had its price objective lifted by The Goldman Sachs Group from $9.00 to $10.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the solar energy provider’s stock.

Several other research firms also recently weighed in on CSIQ. Zacks Research raised shares of Canadian Solar from a “strong sell” rating to a “hold” rating in a research note on Friday, September 19th. JPMorgan Chase & Co. raised their price target on shares of Canadian Solar from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Friday, September 19th. Wall Street Zen raised shares of Canadian Solar from a “sell” rating to a “hold” rating in a research note on Friday, September 26th. Mizuho reduced their target price on shares of Canadian Solar from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, August 22nd. Finally, Citigroup reduced their target price on shares of Canadian Solar from $12.50 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, August 21st. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Canadian Solar currently has a consensus rating of “Hold” and a consensus price target of $11.77.

Canadian Solar Stock Performance

NASDAQ:CSIQ opened at $13.38 on Wednesday. The company’s 50-day moving average price is $12.07 and its 200-day moving average price is $10.94. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.98. The company has a market cap of $896.06 million, a P/E ratio of -22.30 and a beta of 1.28. Canadian Solar has a twelve month low of $6.57 and a twelve month high of $16.33.

Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings results on Thursday, August 21st. The solar energy provider reported ($0.53) earnings per share for the quarter, missing the consensus estimate of $0.76 by ($1.29). The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.02 earnings per share. Canadian Solar has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts forecast that Canadian Solar will post -0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Canadian Solar

A number of institutional investors and hedge funds have recently made changes to their positions in CSIQ. Raymond James Financial Inc. purchased a new stake in shares of Canadian Solar in the 2nd quarter valued at approximately $33,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Canadian Solar in the 1st quarter valued at approximately $39,000. Summit Securities Group LLC raised its stake in shares of Canadian Solar by 598.5% in the 1st 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 during the period. CANADA LIFE ASSURANCE Co raised its stake in shares of Canadian Solar by 38.6% in the 2nd 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 during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Canadian Solar by 141.9% in the 2nd 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 during the period. 52.36% of the stock is owned by hedge funds and other institutional investors.

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.