Canadian Solar (NASDAQ:CSIQ) Sees Strong Trading Volume on Analyst Upgrade

Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report) shares saw unusually-high trading volume on Tuesday after Roth Capital raised their price target on the stock from $11.00 to $30.00. Roth Capital currently has a neutral rating on the stock. Approximately 1,511,321 shares traded hands during trading, a decline of 32% from the previous session's volume of 2,236,960 shares.The stock last traded at $26.7640 and had previously closed at $28.47.Is SunPower Stock Ready to Lead the Solar Market?Several other brokerages have also recently issued reports on CSIQ. JPMorgan Chase & Co. lifted their price objective on Canadian Solar from $9.00 to $10.00 and gave the stock an "underweight" rating in a report on Friday. Wells Fargo & Company dropped their price target on Canadian Solar from $11.00 to $10.00 and set an "equal weight" rating for the company in a research report on Wednesday, September 3rd. Citigroup reaffirmed a "sell" rating and set a $11.00 price target on shares of Canadian Solar in a research note on Tuesday, October 21st. Weiss Ratings reissued a "sell (d+)" rating on shares of Canadian Solar in a research note on Thursday. Finally, Mizuho dropped their target price 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 analysts have rated the stock with a Buy rating, four have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Canadian Solar presently has a consensus rating of "Reduce" and an average price target of $15.08.Get Canadian Solar alerts:Read Our Latest Research Report on Canadian SolarInstitutional Inflows and OutflowsMarketBeat Week in Review – 5/22 - 5/26Large investors have recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new stake in shares of Canadian Solar in the second quarter valued at $33,000. Caitong International Asset Management Co. Ltd purchased a new stake in Canadian Solar in the 1st quarter valued at about $39,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings 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 buying an additional 312 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Canadian Solar during the 3rd quarter valued at about $73,000. Finally, Summit Securities Group LLC lifted its holdings in shares of Canadian Solar by 598.5% during the 1st quarter. Summit Securities Group LLC now owns 7,020 shares of the solar energy provider's stock worth $61,000 after acquiring an additional 6,015 shares during the period. Hedge funds and other institutional investors own 52.36% of the company's stock. Canadian Solar Stock PerformanceThe company's fifty day moving average price is $17.09 and its two-hundred day moving average price is $13.28. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.87 and a current ratio of 1.09. The firm has a market capitalization of $1.79 billion, a PE ratio of -44.56 and a beta of 1.35. Solar Panel Demand Makes Canadian Solar a Buy-the-Dip OpportunityCanadian Solar (NASDAQ:CSIQ - Get Free Report) last issued its quarterly earnings results on Thursday, November 13th. The solar energy provider reported ($0.58) EPS for the quarter, topping the consensus estimate of ($1.08) by $0.50. The firm had revenue of $1.49 billion during 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 revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.31) earnings per share. Canadian Solar has set its Q4 2025 guidance at EPS. As a group, equities analysts expect that Canadian Solar Inc. will post -0.23 earnings per share for the current year. 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.See AlsoFive stocks we like better than Canadian SolarShort Selling - The Pros and Cons 3 Smart Defensive Stocks for an Uneasy MarketWhat is a Bond Market Holiday? How to Invest and TradeThese 3 Stocks Are Using Buybacks to Signal Market ConfidenceHow is Compound Interest Calculated?3 Companies to Watch as Natural Gas Stocks Make a ComebackThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Canadian Solar Right Now?Before you consider Canadian Solar, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. 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