Aberdeen Group plc Acquires 50,714 Shares of 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 lifted its holdings 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 Form 13F filing with the SEC. The firm owned 97,145 shares of the solar energy provider's stock after purchasing an additional 50,714 shares during the period. Aberdeen Group plc owned 0.15% of Canadian Solar worth $840,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of Canadian Solar during the first quarter worth $39,000. Wells Fargo & Company MN lifted its holdings in shares of 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 worth $57,000 after purchasing an additional 3,347 shares during the period. Templeton & Phillips Capital Management LLC lifted its holdings in shares of Canadian Solar by 14.6% during the first quarter. Templeton & Phillips Capital Management LLC now owns 14,481 shares of the solar energy provider's stock worth $125,000 after purchasing an additional 1,843 shares during the period. XTX Topco Ltd acquired a new position in shares of Canadian Solar during the first quarter worth $157,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Canadian Solar during the fourth quarter worth $177,000. Institutional investors and hedge funds own 52.36% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CSIQ. Mizuho cut their price target on shares of Canadian Solar from $17.00 to $15.00 and set an "outperform" rating on the stock in a report on Friday, August 22nd. The Goldman Sachs Group boosted their target price 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 dropped their target price 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 company a "neutral" rating in a report on Friday, May 16th. Finally, Wall Street Zen lowered shares of Canadian Solar from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Canadian Solar presently has a consensus rating of "Hold" and an average price target of $11.86.

Canadian Solar Stock Down 9.2%

Shares of NASDAQ CSIQ traded down $1.05 during trading on Wednesday, hitting $10.34. 2,220,949 shares of the company traded hands, compared to its average volume of 1,146,598. The business's fifty day moving average is $11.98 and its 200 day moving average is $10.49. Canadian Solar Inc. has a fifty-two week low of $6.57 and a fifty-two week high of $19.55. The firm has a market capitalization of $692.47 million, a price-to-earnings ratio of -17.23 and a beta of 1.35. 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 - Get Free Report) last announced its quarterly earnings data on Thursday, August 21st. The solar energy provider reported ($0.53) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the prior year, the company posted $0.02 EPS. Canadian Solar's revenue for the quarter 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 predict that Canadian Solar Inc. will post -0.23 earnings per share for the current fiscal year.

About Canadian Solar

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.