Canadian Solar (NASDAQ:CSIQ) Shares Down 7.9% – Here’s What Happened

Canadian Solar Inc. (NASDAQ:CSIQ) shares dropped 7.9% on Thursday . The company traded as low as $24.40 and last traded at $24.2970. Approximately 2,385,028 shares were traded during trading, an increase of 4% from the average daily volume of 2,294,154 shares. The stock had previously closed at $26.38.

Analyst Upgrades and Downgrades

CSIQ has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Canadian Solar from a “sell” rating to a “hold” rating in a research report on Friday, September 26th. Mizuho reissued an “underperform” rating and issued a $21.00 target price (up previously from $15.00) on shares of Canadian Solar in a research report on Wednesday. Weiss Ratings restated a “sell (d+)” rating on shares of Canadian Solar in a research note on Wednesday. Jefferies Financial Group reaffirmed a “hold” rating and issued a $19.64 price target (up from $13.70) on shares of Canadian Solar in a research note on Monday, November 3rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Canadian Solar from $9.00 to $10.00 and gave the stock an “underweight” rating in a research note on Friday, November 14th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $18.58.

Canadian Solar Trading Up 5.6%

The stock’s fifty day moving average price is $18.15 and its 200 day moving average price is $13.64. 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 stock has a market cap of $1.52 billion, a PE ratio of -37.72 and a beta of 1.35.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings data on Thursday, November 13th. The solar energy provider reported ($0.58) earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the prior year, the firm posted ($0.31) EPS. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. Canadian Solar has set its Q4 2025 guidance at EPS. On average, sell-side analysts forecast that Canadian Solar Inc. will post -0.23 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Cetera Investment Advisers grew its position in Canadian Solar by 50.6% in the 1st quarter. Cetera Investment Advisers now owns 32,570 shares of the solar energy provider’s stock worth $282,000 after purchasing an additional 10,945 shares during the period. IvyRock Asset Management HK Ltd boosted its stake in shares of Canadian Solar by 87.8% in 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 buying an additional 1,219,200 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Canadian Solar in the first quarter worth $157,000. Charles Schwab Investment Management Inc. increased its position in 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 valued at $2,173,000 after acquiring an additional 70,412 shares during the last quarter. Finally, Invesco Ltd. increased its position in Canadian Solar by 15.5% during the first quarter. Invesco Ltd. now owns 2,311,596 shares of the solar energy provider’s stock valued at $19,995,000 after acquiring an additional 310,564 shares during the last quarter. 52.36% of the stock is owned by hedge funds and other institutional investors.

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.