The Goldman Sachs Group Forecasts Strong Price Appreciation for Canadian Solar (NASDAQ:CSIQ) Stock

Canadian Solar (NASDAQ:CSIQ) had its price objective boosted by investment analysts at The Goldman Sachs Group from $9.00 to $10.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “sell” rating on the solar energy provider’s stock. The Goldman Sachs Group’s price target suggests a potential downside of 37.38% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Citigroup decreased their price objective on Canadian Solar from $12.50 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, August 21st. Wall Street Zen upgraded shares of Canadian Solar from a “sell” rating to a “hold” rating in a report on Friday, September 26th. UBS Group dropped their price objective on shares of Canadian Solar from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Wells Fargo & Company cut their price objective on shares of Canadian Solar from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 3rd. Finally, Mizuho lowered their target price on Canadian Solar from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, August 22nd. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $11.77.

Canadian Solar Trading Up 11.8%

CSIQ opened at $15.97 on Wednesday. The firm’s fifty day moving average is $12.03 and its two-hundred day moving average is $10.91. The firm has a market cap of $1.07 billion, a PE ratio of -26.62 and a beta of 1.28. Canadian Solar has a twelve month low of $6.57 and a twelve month high of $16.33. 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 quarterly earnings data on Thursday, August 21st. The solar energy provider reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($1.29). The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.90 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 up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 EPS. Canadian Solar has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts anticipate that Canadian Solar will post -0.23 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new position in Canadian Solar in the second quarter valued at approximately $33,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Canadian Solar in the 1st quarter valued at approximately $39,000. Summit Securities Group LLC grew its stake in shares of Canadian Solar by 598.5% in the first quarter. Summit Securities Group LLC now owns 7,020 shares of the solar energy provider’s stock valued at $61,000 after buying an additional 6,015 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings 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 worth $89,000 after buying an additional 2,254 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Canadian Solar by 141.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 9,100 shares of the solar energy provider’s stock worth $100,000 after acquiring an additional 5,338 shares in the last quarter. 52.36% of the stock is 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.