Canadian Solar Inc. $CSIQ Shares Bought by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its stake in Canadian Solar Inc. by 20.1% in Q1, holding approximately 0.82% of the company's stock, valued at $4.75 million.
• Other investors such as Summit Securities Group LLC and Templeton & Phillips Capital Management also made significant changes to their positions, reflecting increasing institutional interest in Canadian Solar.
• Canadian Solar's recent earnings report revealed a missed EPS estimate of ($0.53) compared to the expected $0.76, with total revenue of $1.69 billion, falling short of analyst expectations.

Goldman Sachs Group Inc. boosted its position in shares of Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) by 20.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 548,853 shares of the solar energy provider's stock after purchasing an additional 92,002 shares during the quarter. Goldman Sachs Group Inc. owned about 0.82% of Canadian Solar worth $4,748,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in Canadian Solar during the 1st quarter worth $39,000. Summit Securities Group LLC increased its holdings in shares of Canadian Solar by 598.5% in the 1st quarter. Summit Securities Group LLC now owns 7,020 shares of the solar energy provider's stock valued at $61,000 after acquiring an additional 6,015 shares during the period. Templeton & Phillips Capital Management LLC increased its holdings in shares of Canadian Solar by 14.6% in the 1st quarter. Templeton & Phillips Capital Management LLC now owns 14,481 shares of the solar energy provider's stock valued at $125,000 after acquiring an additional 1,843 shares during the period. XTX Topco Ltd purchased a new position in shares of Canadian Solar in the 1st quarter valued at $157,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Canadian Solar by 11.3% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 21,874 shares of the solar energy provider's stock valued at $189,000 after acquiring an additional 2,217 shares during the period. 52.36% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Solar Price Performance

NASDAQ CSIQ traded down $0.07 during trading hours on Friday, reaching $11.70. The company's stock had a trading volume of 3,321,297 shares, compared to its average volume of 1,872,724. The firm has a market capitalization of $783.55 million, a price-to-earnings ratio of -19.50 and a beta of 1.16. 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 0.98, a current ratio of 1.09 and a quick ratio of 0.87. The company's 50-day moving average is $11.64 and its two-hundred day moving average is $10.52.

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 analysts' consensus estimates of $0.76 by ($1.29). The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.90 billion. Canadian Solar had a negative return on equity of 4.97% and a negative net margin of 0.12%.The business'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 posted $0.02 EPS. Canadian Solar has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts predict that Canadian Solar Inc. will post -0.23 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CSIQ shares. Wells Fargo & Company cut their price target on Canadian Solar from $11.00 to $10.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 3rd. Citigroup cut their price target on Canadian Solar from $12.50 to $11.00 and set a "neutral" rating on the stock in a report on Thursday, August 21st. JPMorgan Chase & Co. boosted their target price on Canadian Solar from $7.00 to $8.00 and gave the stock an "underweight" rating in a research note on Friday. Mizuho dropped their target price on Canadian Solar from $17.00 to $15.00 and set an "outperform" rating on the stock in a research note on Friday, August 22nd. Finally, Zacks Research downgraded Canadian Solar from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 21st. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $11.64.

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.