National Bank of Canada FI Reduces Holdings in Canadian Solar Inc. $CSIQ

Key Points

• National Bank of Canada FI significantly reduced its stake in Canadian Solar Inc. by 99.1%, ending the first quarter with only 3,108 shares after selling 326,506 shares.
• Analysts have recently adjusted their price targets for Canadian Solar, with Mizuho lowering its target from $17.00 to $15.00 while Wells Fargo raised its target from $10.00 to $11.00.
• Institutional investors currently hold 52.36% of Canadian Solar's stock, indicating strong institutional interest despite varying opinions on the stock's potential performance.

National Bank of Canada FI cut its stake in shares of Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) by 99.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,108 shares of the solar energy provider's stock after selling 326,506 shares during the quarter. National Bank of Canada FI's holdings in Canadian Solar were worth $27,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wells Fargo & Company MN increased its position 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 acquiring an additional 3,347 shares during the period. Templeton & Phillips Capital Management LLC increased its holdings in 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 valued at $125,000 after buying an additional 1,843 shares during the period. Hsbc Holdings PLC purchased a new position in Canadian Solar during the fourth quarter valued at approximately $177,000. XTX Topco Ltd purchased a new position in Canadian Solar during the first quarter valued at approximately $157,000. Finally, Mariner LLC increased its holdings in Canadian Solar by 100.0% during the fourth quarter. Mariner LLC now owns 20,000 shares of the solar energy provider's stock valued at $222,000 after buying an additional 10,000 shares during the period. 52.36% of the stock is owned by hedge funds and other institutional investors.

Canadian Solar Price Performance

Shares of CSIQ traded up $0.68 during mid-day trading on Friday, hitting $11.07. 2,268,238 shares of the company were exchanged, compared to its average volume of 1,012,475. Canadian Solar Inc. has a 1-year low of $6.57 and a 1-year high of $19.55. 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 company has a 50 day moving average of $11.95 and a 200-day moving average of $10.47. The stock has a market cap 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 released its quarterly earnings results 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 return on equity of 4.98% and a negative net margin of 0.12%.The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter last year, the company earned $0.02 EPS. The firm'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. Analysts expect that Canadian Solar Inc. will post -0.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Canadian Solar from $10.00 to $11.00 and gave the company an "equal weight" rating in a report on Friday, May 16th. Citigroup cut 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. 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. Wall Street Zen lowered shares of Canadian Solar from a "hold" rating to a "sell" rating in a report on Friday. Finally, Roth Capital set a $11.00 price target on shares of Canadian Solar and gave the stock a "neutral" rating in a report on Friday, May 16th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Canadian Solar has a consensus 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.