Stock Traders Buy Large Volume of Canadian Solar Call Options (NASDAQ:CSIQ)

by · The Cerbat Gem

Canadian Solar Inc. (NASDAQ:CSIQ – Get Free Report) saw unusually large options trading activity on Friday. Investors bought 9,649 call options on the stock. This is an increase of 38% compared to the average volume of 6,968 call options.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CSIQ. Zacks Research upgraded Canadian Solar from a “strong sell” rating to a “hold” rating in a research report on Friday, September 19th. Weiss Ratings reissued a “sell (d+)” rating on shares of Canadian Solar in a report on Thursday. JPMorgan Chase & Co. lifted their price target on shares of Canadian Solar from $9.00 to $10.00 and gave the company an “underweight” rating in a report on Friday. 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. Finally, Mizuho lowered their price target on shares of Canadian Solar from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, August 22nd. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, Canadian Solar presently has an average rating of “Reduce” and a consensus price target of $12.71.

Check Out Our Latest Analysis on CSIQ

Canadian Solar Trading Up 19.6%

Shares of CSIQ stock traded up $5.61 during trading hours on Friday, hitting $34.23. 8,490,673 shares of the company’s stock traded hands, compared to its average volume of 2,187,014. The stock has a market cap of $2.29 billion, a PE ratio of -56.83 and a beta of 1.35. The stock’s 50 day simple moving average is $16.29 and its 200 day simple moving average is $12.93. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.98. Canadian Solar has a 12 month low of $6.57 and a 12 month high of $34.59.

Canadian Solar (NASDAQ:CSIQ – Get Free Report) last posted its quarterly earnings data on Thursday, November 13th. The solar energy provider reported ($0.58) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.08) by $0.50. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.37 billion. Canadian Solar had a negative return on equity of 4.97% and a negative net margin of 0.12%.Canadian Solar’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.31) earnings per share. Canadian Solar has set its Q4 2025 guidance at EPS. On average, sell-side analysts anticipate that Canadian Solar will post -0.23 EPS for the current year.

Hedge Funds Weigh In On Canadian Solar

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cerity Partners LLC boosted its holdings in Canadian Solar by 52.2% in the first quarter. Cerity Partners LLC now owns 374,966 shares of the solar energy provider’s stock valued at $3,243,000 after acquiring an additional 128,669 shares during the last quarter. Templeton & Phillips Capital Management LLC raised its holdings in Canadian Solar by 14.6% during the 1st quarter. Templeton & Phillips Capital Management LLC now owns 14,481 shares of the solar energy provider’s stock worth $125,000 after purchasing an additional 1,843 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of 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 valued at $22,557,000 after purchasing an additional 1,219,200 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Canadian Solar during the first quarter worth $157,000. 52.36% of the stock is owned by institutional investors and hedge funds.

Canadian Solar Company Profile

(Get Free Report)

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.

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