Aberdeen Group plc Grows Stock Holdings in Canadian Solar Inc. $CSIQ

Key Points

• Aberdeen Group plc increased its stake in Canadian Solar Inc. by 109.2%, acquiring an additional 50,714 shares, bringing its total holdings to 97,145 shares valued at approximately $840,000.
• Canadian Solar's recent earnings report showed a loss of ($0.53) EPS, missing the consensus estimate, but revenue rose by 3.6% year-over-year.
• Multiple analysts have issued mixed ratings on Canadian Solar's stock, with a current average target price of $14.77 and ratings ranging from "Buy" to "Sell."

Aberdeen Group plc grew its stake in shares of Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) by 109.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 97,145 shares of the solar energy provider's stock after acquiring an additional 50,714 shares during the quarter. Aberdeen Group plc owned about 0.15% of Canadian Solar worth $840,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. IvyRock Asset Management HK Ltd grew its position in Canadian Solar by 87.8% during the first 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 buying an additional 1,219,200 shares during the period. Wells Fargo & Company MN grew its position in Canadian Solar by 184.0% during the fourth quarter. Wells Fargo & Company MN now owns 5,166 shares of the solar energy provider's stock valued at $57,000 after buying an additional 3,347 shares during the period. Cerity Partners LLC grew its position in Canadian Solar by 52.2% during the first quarter. Cerity Partners LLC now owns 374,966 shares of the solar energy provider's stock valued at $3,243,000 after buying an additional 128,669 shares during the period. Northern Trust Corp grew its position in Canadian Solar by 89.9% during the fourth quarter. Northern Trust Corp now owns 26,319 shares of the solar energy provider's stock valued at $293,000 after buying an additional 12,458 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Canadian Solar during the fourth quarter valued at approximately $1,769,000. Hedge funds and other institutional investors own 52.36% of the company's stock.

Canadian Solar Trading Down 0.3%

CSIQ stock traded down $0.04 during mid-day trading on Tuesday, reaching $11.36. 641,124 shares of the stock traded hands, compared to its average volume of 1,628,584. 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 Inc. has a one year low of $6.57 and a one year high of $19.55. The stock has a market capitalization of $760.47 million, a PE ratio of -18.92 and a beta of 1.35. The business has a 50-day moving average price of $11.96 and a two-hundred day moving average price of $10.48.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last posted its quarterly earnings data on Thursday, August 21st. The solar energy provider reported ($0.53) earnings per share for the quarter, missing analysts' consensus estimates of $0.76 by ($1.29). Canadian Solar had a negative net margin of 0.12% and a negative return on equity of 4.97%. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter last year, the firm earned $0.02 EPS. The company's revenue was up 3.6% on a year-over-year basis. Canadian Solar has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts expect that Canadian Solar Inc. will post -0.23 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CSIQ. Zacks Research downgraded shares of Canadian Solar from a "hold" rating to a "strong sell" rating in a report on Thursday, August 21st. The Goldman Sachs Group lifted their price target on shares of Canadian Solar from $8.00 to $9.00 and gave the company a "sell" rating in a report on Friday, May 16th. Citigroup lowered their price target on shares of Canadian Solar from $12.50 to $11.00 and set a "neutral" rating on the stock in a report on Thursday, August 21st. Roth Capital set a $11.00 target price on shares of Canadian Solar and gave the stock a "neutral" rating in a report on Friday, May 16th. Finally, Wall Street Zen downgraded shares of Canadian Solar from a "hold" rating to a "sell" rating in a report on Friday. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $11.86.

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.