Canadian Solar (NASDAQ:CSIQ) Given New $30.00 Price Target at Roth Capital

Canadian Solar (NASDAQ:CSIQ) had its price target raised by investment analysts at Roth Capital from $11.00 to $30.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the solar energy provider’s stock. Roth Capital’s target price suggests a potential downside of 10.66% from the company’s previous close.

A number of other brokerages have also issued reports on CSIQ. Mizuho dropped their price target 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. Jefferies Financial Group reissued a “hold” rating and issued a $19.64 price target (up from $13.70) on shares of Canadian Solar in a report on Monday, November 3rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Canadian Solar in a report on Thursday. Wall Street Zen upgraded Canadian Solar from a “sell” rating to a “hold” rating in a research report on Friday, September 26th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Canadian Solar from $9.00 to $10.00 and gave the stock an “underweight” rating in a research report on Friday. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $15.08.

Canadian Solar Stock Up 17.3%

CSIQ opened at $33.58 on Monday. The business has a 50 day moving average price of $16.74 and a two-hundred day moving average price of $13.15. Canadian Solar has a 52 week low of $6.57 and a 52 week high of $34.59. The company has a market cap of $2.25 billion, a PE ratio of -55.97 and a beta of 1.35. 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 released its quarterly 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 return on equity of 4.97% and a negative net margin of 0.12%.The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the prior year, the business earned ($0.31) earnings per share. 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, research analysts anticipate that Canadian Solar will post -0.23 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in Canadian Solar in the 2nd quarter valued at about $33,000. Caitong International Asset Management Co. Ltd acquired a new position in Canadian Solar during the first quarter worth about $39,000. Summit Securities Group LLC lifted 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 purchasing an additional 6,015 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Canadian Solar by 7.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,796 shares of the solar energy provider’s stock valued at $63,000 after purchasing an additional 312 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its position 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 purchasing an additional 2,254 shares during 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.