Counterpoint Mutual Funds LLC Purchases New Position in Canadian Solar Inc. $CSIQ

Key Points

• Counterpoint Mutual Funds LLC acquired a new position in Canadian Solar Inc. during the 2nd quarter, purchasing 34,612 shares valued at approximately $382,000, which represents 0.05% of the company.
• Various institutional investors significantly increased their stakes in Canadian Solar, with IvyRock Asset Management raising its position by 87.8% in the first quarter.
• Canadian Solar reported a loss of ($0.53) EPS for the last quarter, missing consensus estimates, while revenue decreased compared to expectations.

Counterpoint Mutual Funds LLC acquired a new position in Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 34,612 shares of the solar energy provider's stock, valued at approximately $382,000. Counterpoint Mutual Funds LLC owned 0.05% of Canadian Solar at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. IvyRock Asset Management HK Ltd raised its position in shares of Canadian Solar by 87.8% in the 1st quarter. IvyRock Asset Management HK Ltd now owns 2,607,700 shares of the solar energy provider's stock worth $22,557,000 after acquiring an additional 1,219,200 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. raised its holdings in Canadian Solar by 60.4% in the first quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 1,115,861 shares of the solar energy provider's stock worth $9,652,000 after purchasing an additional 420,000 shares in the last quarter. Invesco Ltd. lifted its position in Canadian Solar by 15.5% during the first quarter. Invesco Ltd. now owns 2,311,596 shares of the solar energy provider's stock valued at $19,995,000 after buying an additional 310,564 shares during the period. Shah Capital Management lifted its position in Canadian Solar by 9.2% during the first quarter. Shah Capital Management now owns 1,906,285 shares of the solar energy provider's stock valued at $16,489,000 after buying an additional 160,739 shares during the period. Finally, Cerity Partners LLC boosted its holdings in shares of Canadian Solar by 52.2% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 52.36% of the company's stock.

Canadian Solar Trading Down 2.8%

Shares of NASDAQ:CSIQ opened at $12.37 on Wednesday. The stock's 50-day simple moving average is $11.62 and its two-hundred day simple moving average is $10.55. The stock has a market capitalization of $828.42 million, a price-to-earnings ratio of -20.62 and a beta of 1.16. Canadian Solar Inc. has a 52-week low of $6.57 and a 52-week high of $19.55. 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 released its quarterly earnings results on Thursday, August 21st. The solar energy provider reported ($0.53) EPS for the quarter, missing the consensus estimate of $0.76 by ($1.29). The business had revenue of $1.69 billion for the quarter, compared to analysts' expectations of $1.90 billion. Canadian Solar had a negative net margin of 0.12% and a negative return on equity of 4.97%. Canadian Solar's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.02 EPS. 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 year.

Wall Street Analyst Weigh In

CSIQ has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Canadian Solar from $7.00 to $8.00 and gave the company an "underweight" rating in a research report on Friday, September 19th. Citigroup lowered their target price on shares of Canadian Solar from $12.50 to $11.00 and set a "neutral" rating for the company in a report on Thursday, August 21st. Wall Street Zen downgraded Canadian Solar from a "hold" rating to a "sell" rating in a research note on Saturday, August 30th. Wells Fargo & Company lowered their price objective on Canadian Solar from $11.00 to $10.00 and set an "equal weight" rating for the company in a research note on Wednesday, September 3rd. Finally, Zacks Research raised Canadian Solar from a "strong sell" rating to a "hold" rating in a research note on Friday, September 19th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Canadian Solar has an average rating of "Hold" and a consensus target price of $11.64.

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.

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