Canadian Solar (NASDAQ:CSIQ) Price Target Raised to $10.00 at JPMorgan Chase & Co.

Canadian Solar (NASDAQ:CSIQ) had its target price upped by JPMorgan Chase & Co. from $9.00 to $10.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an underweight rating on the solar energy provider’s stock.

Several other equities research analysts have also weighed in on the company. Mizuho dropped their target price on Canadian Solar from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday, August 22nd. Zacks Research upgraded shares of Canadian Solar from a “strong sell” rating to a “hold” rating in a research report on Friday, September 19th. Citigroup restated a “sell” rating and issued a $11.00 target price on shares of Canadian Solar in a research report on Tuesday, October 21st. Wall Street Zen raised Canadian Solar from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Finally, Wells Fargo & Company decreased their price objective on Canadian Solar from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Wednesday, September 3rd. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $12.71.

Canadian Solar Stock Performance

Shares of NASDAQ CSIQ traded up $4.96 during midday trading on Friday, hitting $33.58. The company’s stock had a trading volume of 11,722,086 shares, compared to its average volume of 2,204,659. 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 has a 1-year low of $6.57 and a 1-year high of $34.59. The firm’s fifty day moving average price is $16.74 and its 200-day moving average price is $13.10. The firm has a market cap of $2.25 billion, a P/E ratio of -55.97 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 for the quarter, topping the consensus estimate of ($1.08) by $0.50. The firm had revenue of $1.49 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.31) earnings per share. Canadian Solar has set its Q4 2025 guidance at EPS. On average, sell-side analysts forecast that Canadian Solar will post -0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Canadian Solar

Several hedge funds have recently modified their holdings of CSIQ. Raymond James Financial Inc. bought a new position in Canadian Solar during the second quarter valued at about $33,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Canadian Solar during the 1st quarter valued at about $39,000. Summit Securities Group LLC grew its stake in shares of Canadian Solar by 598.5% in the 1st quarter. Summit Securities Group LLC now owns 7,020 shares of the solar energy provider’s stock worth $61,000 after purchasing an additional 6,015 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Canadian Solar by 7.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,796 shares of the solar energy provider’s stock worth $63,000 after purchasing an additional 312 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its stake in Canadian Solar by 38.6% during the second 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 last quarter. 52.36% of the stock is currently owned by institutional investors and hedge funds.

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.