Canadian Solar (NASDAQ:CSIQ) Price Target Raised to $37.00 at UBS Group

Canadian Solar (NASDAQ:CSIQ) had its target price hoisted by equities researchers at UBS Group from $15.00 to $37.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the solar energy provider’s stock. UBS Group’s target price points to a potential upside of 43.08% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Roth Capital upped their price target on Canadian Solar from $11.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday. Mizuho reiterated an “underperform” rating and issued a $21.00 target price (up previously from $15.00) on shares of Canadian Solar in a research note on Wednesday. Jefferies Financial Group reissued a “hold” rating and issued a $19.64 price target (up previously from $13.70) on shares of Canadian Solar in a research report on Monday, November 3rd. The Goldman Sachs Group raised their price objective on shares of Canadian Solar from $9.00 to $10.00 and gave the stock a “sell” rating in a report on Wednesday, October 8th. Finally, Zacks Research raised shares of Canadian Solar from a “strong sell” rating to a “hold” rating in a report on Friday, September 19th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $18.58.

Canadian Solar Stock Performance

CSIQ stock traded down $0.56 during mid-day trading on Wednesday, hitting $25.86. The company had a trading volume of 3,246,635 shares, compared to its average volume of 2,269,469. 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 firm has a market cap of $1.73 billion, a PE ratio of -44.05 and a beta of 1.35. Canadian Solar has a 12 month low of $6.57 and a 12 month high of $34.59. The stock’s fifty day moving average price is $17.40 and its two-hundred day moving average price is $13.40.

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

Institutional Trading of Canadian Solar

Several institutional investors and hedge funds have recently bought and sold shares of CSIQ. Raymond James Financial Inc. bought a new position in Canadian Solar in the 2nd quarter valued at $33,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Canadian Solar in the first quarter worth $39,000. Summit Securities Group LLC boosted its stake in Canadian Solar by 598.5% during the first quarter. Summit Securities Group LLC now owns 7,020 shares of the solar energy provider’s stock valued at $61,000 after buying an additional 6,015 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 valued at $63,000 after buying an additional 312 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in Canadian Solar in the 3rd quarter worth about $73,000. 52.36% of the stock is currently 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.