Canadian Solar Inc. $CSIQ is Shah Capital Management's 6th Largest Position

Key Points

• Shah Capital Management increased its stake in Canadian Solar Inc. by 9.2% in the first quarter, making it the sixth largest holding in its portfolio with about $16.5 million in shares.
• Other institutional investors also notably increased their positions, with IvyRock Asset Management raising its ownership by 87.8%, reflecting growing interest in Canadian Solar.
• Analysts have set a consensus price target of $14.39 for Canadian Solar, with varying outlooks including four Buy ratings and one Sell rating from different analysts.

Shah Capital Management increased its stake in Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) by 9.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,906,285 shares of the solar energy provider's stock after purchasing an additional 160,739 shares during the period. Canadian Solar accounts for about 3.4% of Shah Capital Management's portfolio, making the stock its 6th largest position. Shah Capital Management owned about 2.88% of Canadian Solar worth $16,489,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of CSIQ. Wells Fargo & Company MN boosted its stake in Canadian Solar by 184.0% in the 4th 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 in the last quarter. Mariner LLC boosted its stake in Canadian Solar by 100.0% in the 4th quarter. Mariner LLC now owns 20,000 shares of the solar energy provider's stock worth $222,000 after purchasing an additional 10,000 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Canadian Solar by 6.7% in the 4th quarter. NewEdge Advisors LLC now owns 75,481 shares of the solar energy provider's stock worth $839,000 after purchasing an additional 4,717 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in Canadian Solar in the 4th quarter worth approximately $177,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Canadian Solar in the 4th quarter worth approximately $1,769,000. 52.36% of the stock is currently owned by institutional investors and hedge funds.

Canadian Solar Stock Performance

Shares of CSIQ traded up $0.68 during trading hours on Friday, hitting $11.07. The stock had a trading volume of 2,268,238 shares, compared to its average volume of 1,012,475. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a 50-day moving average price of $11.95 and a 200 day moving average price of $10.47. 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 $741.38 million, a price-to-earnings ratio of -18.45 and a beta of 1.35.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last posted its earnings results on Thursday, August 21st. The solar energy provider reported ($0.53) earnings per share (EPS) 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 4.98%. The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the prior year, the firm earned $0.02 earnings per share. The business'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. As a group, research analysts anticipate that Canadian Solar Inc. will post -0.23 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Canadian Solar from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research note on Friday, May 16th. Zacks Research lowered shares of Canadian Solar from a "hold" rating to a "strong sell" rating in a research note on Thursday. Wall Street Zen lowered shares of Canadian Solar from a "hold" rating to a "sell" rating in a research note on Friday. Citigroup cut their price objective on shares of Canadian Solar from $12.50 to $11.00 and set a "neutral" rating on the stock in a research note on Thursday. Finally, Roth Capital set a $11.00 price objective on shares of Canadian Solar and gave the stock a "neutral" rating in a research note on Friday, May 16th. Three research 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. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $13.02.

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.