NEW YORK (TheStreet) -- Shares of Canadian Solar (CSIQ) are lower by 5.68% to $21.72 in mid-morning trading on Tuesday morning, despite the solar power company reporting better than expected 2015 third quarter earnings results before the market open today.

The company posted non-GAAP earnings of 79 cents per diluted share on net revenue of $849.8 million for the three month period ending on September 30.

Analysts surveyed by Thomson Reuters had forecast for earnings of 28 cents per share on revenue of $733.93 million for the most recent quarter.

"We were able to deliver a 33.5% increase in net revenue to $849.8 million in the third quarter, compared to the second quarter. Our strategic decision to build inventory levels in the second quarter helped us to seamlessly meet anticipated higher demand levels in the third quarter and has positioned us well entering the fourth quarter," Canadian Solar CFO Michael G. Potter said in a statement.

Separately, TheStreet Ratings team rates CANADIAN SOLAR INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

We rate CANADIAN SOLAR INC (CSIQ) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, generally higher debt management risk and poor profit margins.

You can view the full analysis from the report here: CSIQ

CSIQ Chart CSIQ data by YCharts

Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.