Canadian Solar (NASDAQ:CSIQ) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Canadian Solar (NASDAQ:CSIQ) from a hold rating to a sell rating in a research report sent to investors on Saturday.

Several other brokerages have also recently issued reports on CSIQ. Roth Capital set a $11.00 target price on shares of Canadian Solar and gave the stock a “neutral” rating in a report on Friday, May 16th. Zacks Research cut shares of Canadian Solar from a “hold” rating to a “strong sell” rating in a report on Thursday, August 21st. The Goldman Sachs Group lifted their price objective on shares of Canadian Solar from $8.00 to $9.00 and gave the company a “sell” rating in a report on Friday, May 16th. Citigroup cut their price objective on shares of Canadian Solar from $12.50 to $11.00 and set a “neutral” rating for the company in a report on Thursday, August 21st. Finally, Wells Fargo & Company lifted their price objective on shares of Canadian Solar from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Friday, May 16th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $11.86.

Canadian Solar Trading Up 2.8%

Shares of Canadian Solar stock opened at $9.78 on Friday. 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 firm has a fifty day moving average price of $11.94 and a 200 day moving average price of $10.49. Canadian Solar has a 1 year low of $6.57 and a 1 year high of $19.55. The stock has a market cap of $654.97 million, a PE ratio of -16.30 and a beta of 1.16.

Canadian Solar (NASDAQ:CSIQ) last issued its earnings results on Thursday, August 21st. The solar energy provider reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same period last year, the business earned $0.02 EPS. The company’s revenue for the quarter 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. Equities research analysts predict that Canadian Solar will post -0.23 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. IvyRock Asset Management HK Ltd raised its position in shares of Canadian Solar by 87.8% during 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 purchasing an additional 1,219,200 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Canadian Solar by 184.0% during the 4th quarter. Wells Fargo & Company MN now owns 5,166 shares of the solar energy provider’s stock worth $57,000 after purchasing an additional 3,347 shares during the last quarter. Aberdeen Group plc raised its position in shares of Canadian Solar by 109.2% during the 1st quarter. Aberdeen Group plc now owns 97,145 shares of the solar energy provider’s stock worth $840,000 after purchasing an additional 50,714 shares during the last quarter. Cerity Partners LLC raised its position in shares of Canadian Solar by 52.2% during the 1st quarter. Cerity Partners LLC now owns 374,966 shares of the solar energy provider’s stock worth $3,243,000 after purchasing an additional 128,669 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Canadian Solar by 38.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 251,204 shares of the solar energy provider’s stock worth $2,173,000 after purchasing an additional 70,412 shares during the last quarter. Institutional investors and hedge funds own 52.36% of the company’s stock.

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.