Canadian Solar Inc. $CSIQ Shares Acquired by Greenwoods Asset Management Hong Kong Ltd.

Key Points

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Greenwoods Asset Management Hong Kong Ltd. increased its position in Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) by 60.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,115,861 shares of the solar energy provider's stock after purchasing an additional 420,000 shares during the period. Canadian Solar accounts for about 0.3% of Greenwoods Asset Management Hong Kong Ltd.'s holdings, making the stock its 23rd biggest holding. Greenwoods Asset Management Hong Kong Ltd. owned 1.69% of Canadian Solar worth $9,652,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Templeton & Phillips Capital Management LLC lifted 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 purchasing an additional 1,843 shares during the last quarter. Robotti Robert lifted its holdings in shares of Canadian Solar by 0.6% in the 1st quarter. Robotti Robert now owns 490,880 shares of the solar energy provider's stock valued at $4,246,000 after purchasing an additional 3,000 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of 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 valued at $57,000 after purchasing an additional 3,347 shares during the last quarter. Shell Asset Management Co. lifted its holdings in shares of Canadian Solar by 11.4% in the 4th quarter. Shell Asset Management Co. now owns 40,499 shares of the solar energy provider's stock valued at $450,000 after purchasing an additional 4,134 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Canadian Solar in the 1st quarter valued at about $39,000. 52.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CSIQ shares. Roth Capital set a $11.00 target price on Canadian Solar and gave the company a "neutral" rating in a report on Friday, May 16th. Wall Street Zen downgraded Canadian Solar from a "hold" rating to a "sell" rating in a research note on Friday. Wells Fargo & Company upped their price objective on Canadian Solar from $10.00 to $11.00 and gave the company an "equal weight" rating in a research note on Friday, May 16th. Zacks Research downgraded Canadian Solar from a "hold" rating to a "strong sell" rating in a research note on Thursday. Finally, The Goldman Sachs Group upped their price objective on Canadian Solar from $8.00 to $9.00 and gave the company a "sell" rating in a research note on Friday, May 16th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $13.02.

Canadian Solar Price Performance

Shares of Canadian Solar stock traded up $0.68 during trading on Friday, reaching $11.07. The company's stock had a trading volume of 2,268,238 shares, compared to its average volume of 1,088,978. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.98. Canadian Solar Inc. has a 12-month low of $6.57 and a 12-month high of $19.55. The company has a market capitalization of $741.36 million, a P/E ratio of -18.45 and a beta of 1.35. The business has a 50 day moving average price of $11.95 and a 200-day moving average price of $10.48.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last posted 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 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%. The firm's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.02 earnings per share. Canadian Solar has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts anticipate that Canadian Solar Inc. will post -0.23 EPS for the current year.

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.