Canadian Solar (NASDAQ:CSIQ) Shares Gap Up on Earnings Beat

Canadian Solar Inc. (NASDAQ:CSIQ) gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $28.46, but opened at $31.34. Canadian Solar shares last traded at $31.2160, with a volume of 4,716,824 shares trading hands.

The solar energy provider reported ($0.58) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.08) by $0.50. Canadian Solar had a negative net margin of 0.12% and a negative return on equity of 4.97%. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the company earned ($0.31) earnings per share. The company’s quarterly revenue was down 1.3% on a year-over-year basis. Canadian Solar has set its Q4 2025 guidance at EPS.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Citigroup restated a “sell” rating and issued a $11.00 target price on shares of Canadian Solar in a research note on Tuesday, October 21st. The Goldman Sachs Group upped their price objective on shares of Canadian Solar from $9.00 to $10.00 and gave the stock a “sell” rating in a research report on Wednesday, October 8th. Zacks Research raised shares of Canadian Solar from a “strong sell” rating to a “hold” rating in a report on Friday, September 19th. UBS Group dropped their price objective on shares of Canadian Solar from $17.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, September 17th. Finally, Wall Street Zen raised Canadian Solar from a “sell” rating to a “hold” rating in a research note on Friday, September 26th. Two investment 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $12.71.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp boosted its holdings in Canadian Solar by 7.4% during the 2nd quarter. Mackenzie Financial Corp now owns 5,884,865 shares of the solar energy provider’s stock valued at $64,969,000 after acquiring an additional 405,800 shares during the period. IvyRock Asset Management HK Ltd boosted its stake in shares of Canadian Solar by 87.8% during the first quarter. IvyRock Asset Management HK Ltd now owns 2,607,700 shares of the solar energy provider’s stock valued at $22,557,000 after purchasing an additional 1,219,200 shares during the period. Invesco Ltd. grew its holdings in shares of Canadian Solar by 15.5% in the first quarter. Invesco Ltd. now owns 2,311,596 shares of the solar energy provider’s stock worth $19,995,000 after purchasing an additional 310,564 shares during the last quarter. Legal & General Group Plc raised its position in Canadian Solar by 13.0% during the 3rd quarter. Legal & General Group Plc now owns 2,051,228 shares of the solar energy provider’s stock valued at $26,741,000 after purchasing an additional 236,115 shares during the last quarter. Finally, Shah Capital Management grew its position in shares of Canadian Solar by 9.2% in the 1st quarter. Shah Capital Management now owns 1,906,285 shares of the solar energy provider’s stock worth $16,489,000 after buying an additional 160,739 shares during the last quarter. 52.36% of the stock is owned by institutional investors.

Canadian Solar Stock Up 17.3%

The company has a debt-to-equity ratio of 0.98, a current ratio of 1.09 and a quick ratio of 0.87. The stock has a market capitalization of $2.25 billion, a PE ratio of -55.97 and a beta of 1.35. The company has a 50 day moving average price of $16.74 and a 200-day moving average price of $13.10.

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.