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

by · The Markets Daily

Canadian Solar Inc. (NASDAQ:CSIQ – Get Free Report) shares gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. 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.

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

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wall Street Zen upgraded Canadian Solar from a “sell” rating to a “hold” rating in a research note on Friday, September 26th. Mizuho decreased their price target on shares of Canadian Solar from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, August 22nd. Jefferies Financial Group restated a “hold” rating and set a $19.64 price objective (up previously from $13.70) on shares of Canadian Solar in a research report on Monday, November 3rd. The Goldman Sachs Group increased their price target on Canadian Solar from $9.00 to $10.00 and gave the company a “sell” rating in a research note on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Canadian Solar in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Canadian Solar currently has a consensus rating of “Reduce” and a consensus price target of $12.71.

Get Our Latest Stock Analysis on Canadian Solar

Institutional Trading of Canadian Solar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC bought a new position in shares of Canadian Solar during the third quarter valued at approximately $174,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in 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 valued at $63,000 after acquiring an additional 312 shares during the last quarter. Two Sigma Investments LP purchased a new stake in Canadian Solar in the third quarter worth $11,544,000. Jump Financial LLC bought a new stake in shares of Canadian Solar during the third quarter worth $2,210,000. Finally, Invesco Ltd. boosted its stake in shares of Canadian Solar by 19.3% during the third quarter. Invesco Ltd. now owns 2,200,622 shares of the solar energy provider’s stock valued at $28,696,000 after purchasing an additional 356,625 shares during the period. 52.36% of the stock is owned by hedge funds and other institutional investors.

Canadian Solar Stock Up 17.3%

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

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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