Brokerages Set Canadian Solar Inc. (NASDAQ:CSIQ) Target Price at $11.89

Shares of Canadian Solar Inc. (NASDAQ:CSIQ) have received an average recommendation of “Reduce” from the ten brokerages that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $11.8938.

A number of research analysts recently issued reports on CSIQ shares. The Goldman Sachs Group lifted their target price on Canadian Solar from $9.00 to $10.00 and gave the stock a “sell” rating in a report on Wednesday, October 8th. Wall Street Zen raised Canadian Solar from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Canadian Solar in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their target price on Canadian Solar from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Thursday, October 16th. Finally, Wells Fargo & Company lowered their target price on Canadian Solar from $11.00 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 3rd.

Hedge Funds Weigh In On Canadian Solar

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Clear Harbor Asset Management LLC boosted its position in shares of 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 period. Templeton & Phillips Capital Management LLC boosted its position in shares of Canadian Solar by 14.6% in the 1st quarter. Templeton & Phillips Capital Management LLC now owns 14,481 shares of the solar energy provider’s stock valued at $125,000 after purchasing an additional 1,843 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Canadian Solar by 11.3% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 21,874 shares of the solar energy provider’s stock valued at $189,000 after purchasing an additional 2,217 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in shares of Canadian Solar by 38.6% in the 2nd 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 period. Finally, Bryn Mawr Trust Advisors LLC boosted its position in Canadian Solar by 12.6% during the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 24,650 shares of the solar energy provider’s stock worth $272,000 after acquiring an additional 2,750 shares during the period. Institutional investors and hedge funds own 52.36% of the company’s stock.

Canadian Solar Trading Up 15.9%

NASDAQ:CSIQ opened at $17.57 on Monday. Canadian Solar has a 1 year low of $6.57 and a 1 year high of $18.64. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -29.28 and a beta of 1.28. The business has a fifty day moving average of $12.89 and a 200-day moving average of $11.61. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.87 and a current ratio of 1.09.

Canadian Solar (NASDAQ:CSIQ) last released its earnings results on Thursday, August 21st. The solar energy provider reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($1.29). The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.90 billion. Canadian Solar had a negative return on equity of 4.97% and a negative net margin of 0.12%.Canadian Solar’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.02 earnings per share. Canadian Solar has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities analysts predict that Canadian Solar will post -0.23 earnings per share for the current year.

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.