Canadian Solar Inc. $CSIQ Shares Sold by Waterfront Wealth Inc.

Key Points

• Waterfront Wealth cut its stake in Canadian Solar by 49.6% in Q4, selling 81,595 shares and retaining 82,836 shares worth $1.822 million (about a 0.12% stake).
• Other institutions boosted or initiated positions—Invesco (+19.3%) and Legal & General (+13%) increased stakes, while Polunin and Two Sigma opened sizable new positions (~$43.7M and ~$11.5M respectively); institutional ownership is 52.36%.
• Shares opened at $13.20 (12‑month range $6.96–$34.59); Canadian Solar reported a Q4 loss of $1.66 EPS (PE -5.28) and carries a consensus analyst rating of Hold with an average target of $18.36.

Waterfront Wealth Inc. decreased its holdings in shares of Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) by 49.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 82,836 shares of the solar energy provider's stock after selling 81,595 shares during the period. Waterfront Wealth Inc. owned approximately 0.12% of Canadian Solar worth $1,822,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Invesco Ltd. boosted its stake in shares of Canadian Solar by 19.3% during the third quarter. Invesco Ltd. now owns 2,200,622 shares of the solar energy provider's stock worth $28,696,000 after buying an additional 356,625 shares during the period. Legal & General Group Plc boosted its stake in shares of Canadian Solar by 13.0% during the third quarter. Legal & General Group Plc now owns 2,051,228 shares of the solar energy provider's stock worth $26,741,000 after buying an additional 236,115 shares during the period. Polunin Capital Partners Ltd acquired a new stake in shares of Canadian Solar during the fourth quarter worth about $43,692,000. Two Sigma Investments LP acquired a new stake in shares of Canadian Solar during the third quarter worth about $11,544,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Canadian Solar by 20.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 842,703 shares of the solar energy provider's stock worth $9,539,000 after buying an additional 145,867 shares during the period. Institutional investors and hedge funds own 52.36% of the company's stock.

Canadian Solar Stock Performance

Shares of Canadian Solar stock opened at $13.20 on Monday. Canadian Solar Inc. has a 12-month low of $6.96 and a 12-month high of $34.59. The company has a current ratio of 1.02, a quick ratio of 0.83 and a debt-to-equity ratio of 0.97. The stock has a market cap of $895.09 million, a PE ratio of -5.28 and a beta of 1.37. The company has a 50-day moving average of $16.38 and a two-hundred day moving average of $19.90.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last issued its earnings results on Saturday, February 14th. The solar energy provider reported ($1.66) earnings per share (EPS) for the quarter. Canadian Solar had a negative net margin of 1.86% and a negative return on equity of 4.95%. The company had revenue of $1.22 billion during the quarter. On average, research analysts anticipate that Canadian Solar Inc. will post -0.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CSIQ shares. Freedom Capital raised shares of Canadian Solar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 24th. Weiss Ratings reissued a "sell (d+)" rating on shares of Canadian Solar in a report on Friday, March 27th. Oppenheimer cut their price target on shares of Canadian Solar from $38.00 to $19.00 and set an "outperform" rating for the company in a report on Friday, March 20th. Wall Street Zen cut shares of Canadian Solar from a "hold" rating to a "strong sell" rating in a report on Monday. Finally, Wells Fargo & Company cut their price target on shares of Canadian Solar from $23.00 to $17.00 and set an "equal weight" rating for the company in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $18.36.

About Canadian Solar

Canadian Solar Inc NASDAQ: CSIQ is a global renewable energy company that specializes in the design, development and manufacturing of solar photovoltaic (PV) modules and system solutions. Founded in 2001 and headquartered in Guelph, Ontario, the company has grown to become one of the world's largest solar module suppliers. Canadian Solar offers a comprehensive portfolio of products, including mono- and multi-crystalline solar cells and modules, as well as advanced energy storage and system integration solutions tailored for residential, commercial and utility-scale applications.

In addition to manufacturing solar components, Canadian Solar provides end-to-end services encompassing project development, engineering, procurement and construction (EPC), as well as operations and maintenance.

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