Canadian Solar (NASDAQ:CSIQ) Sees Strong Trading Volume – Should You Buy?

Shares of Canadian Solar Inc. (NASDAQ:CSIQ) saw an uptick in trading volume on Wednesday . 3,773,981 shares were traded during trading, an increase of 99% from the previous session’s volume of 1,893,694 shares.The stock last traded at $25.7210 and had previously closed at $21.99.

Analyst Ratings Changes

Several research firms have weighed in on CSIQ. Wells Fargo & Company lowered their price objective on shares of Canadian Solar from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Canadian Solar in a report on Wednesday, October 8th. Mizuho reduced their price objective on Canadian Solar from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, August 22nd. The Goldman Sachs Group raised their price target on Canadian Solar from $9.00 to $10.00 and gave the stock a “sell” rating in a research report on Wednesday, October 8th. Finally, UBS Group cut their price target on Canadian Solar from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $12.58.

Canadian Solar Stock Performance

The business has a fifty day moving average of $14.69 and a 200 day moving average of $12.35. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.98. The company has a market cap of $1.91 billion, a P/E ratio of -47.45 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) EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($1.29). Canadian Solar had a negative return on equity of 4.97% and a negative net margin of 0.12%.The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same period in the prior year, the company posted $0.02 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. Canadian Solar has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts predict that Canadian Solar Inc. will post -0.23 EPS for the current year.

Institutional Trading of Canadian Solar

Several institutional investors and hedge funds have recently made changes to their positions in CSIQ. GSA Capital Partners LLP purchased a new stake in shares of Canadian Solar during the third quarter worth about $322,000. JPMorgan Chase & Co. boosted its stake in Canadian Solar by 206.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 571,893 shares of the solar energy provider’s stock worth $7,457,000 after purchasing an additional 385,355 shares during the last quarter. Templeton & Phillips Capital Management LLC increased its holdings in shares of Canadian Solar by 38.7% in the third quarter. Templeton & Phillips Capital Management LLC now owns 21,250 shares of the solar energy provider’s stock valued at $277,000 after purchasing an additional 5,932 shares during the last quarter. Clear Harbor Asset Management LLC boosted its holdings in Canadian Solar by 4.7% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 18,075 shares of the solar energy provider’s stock valued at $236,000 after purchasing an additional 805 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Canadian Solar by 646.2% during the 3rd quarter. SG Americas Securities LLC now owns 236,289 shares of the solar energy provider’s stock worth $3,081,000 after purchasing an additional 204,623 shares during the period. 52.36% of the stock is currently owned by 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.