Invesco Ltd. Has $20 Million Position in Canadian Solar Inc. $CSIQ

Key Points

• Invesco Ltd. increased its ownership in Canadian Solar Inc. by 15.5%, acquiring 310,564 shares to own a total of approximately 3.49% of the company, valued at about $19,995,000.
• Institutional investors hold 52.36% of Canadian Solar's stock, with other firms like Templeton & Phillips and Wells Fargo also raising their stakes in the company.
• Canadian Solar's recent earnings report showed a loss of ($0.53) earnings per share, missing estimates, while revenue for the quarter was $1.69 billion, below expectations of $1.90 billion.

Invesco Ltd. boosted its stake in shares of Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) by 15.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,311,596 shares of the solar energy provider's stock after purchasing an additional 310,564 shares during the quarter. Invesco Ltd. owned about 3.49% of Canadian Solar worth $19,995,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its position in 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 purchasing an additional 3,347 shares during the period. Templeton & Phillips Capital Management LLC boosted its position in shares of Canadian Solar by 14.6% in 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 acquiring an additional 1,843 shares during the period. XTX Topco Ltd bought a new stake in shares of Canadian Solar in the first quarter valued at about $157,000. Hsbc Holdings PLC bought a new stake in shares of Canadian Solar in the fourth quarter valued at about $177,000. Finally, Mariner LLC boosted its position in shares of Canadian Solar by 100.0% in the fourth quarter. Mariner LLC now owns 20,000 shares of the solar energy provider's stock valued at $222,000 after acquiring an additional 10,000 shares during the period. 52.36% of the stock is owned by institutional investors.

Canadian Solar Price Performance

Shares of CSIQ stock traded down $1.05 on Wednesday, reaching $10.34. The company had a trading volume of 2,220,949 shares, compared to its average volume of 1,146,598. The stock has a market capitalization of $692.47 million, a PE ratio of -17.23 and a beta of 1.35. 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 one year low of $6.57 and a one year high of $19.55. The business's 50-day moving average is $11.98 and its 200 day moving average is $10.49.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last posted its earnings results on Thursday, August 21st. The solar energy provider reported ($0.53) EPS for the quarter, missing analysts' consensus estimates of $0.76 by ($1.29). The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.90 billion. Canadian Solar had a negative return on equity of 4.97% and a negative net margin of 0.12%.The firm's revenue was up 3.6% compared to the same quarter last year. During the same period last year, the company posted $0.02 EPS. Canadian Solar has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts forecast that Canadian Solar Inc. will post -0.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CSIQ shares. Wells Fargo & Company boosted their target price on shares of Canadian Solar from $10.00 to $11.00 and gave the company an "equal weight" rating in a research report on Friday, May 16th. Citigroup reduced their target price on shares of Canadian Solar from $12.50 to $11.00 and set a "neutral" rating for the company in a research report on Thursday, August 21st. Zacks Research cut shares of Canadian Solar from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 21st. Wall Street Zen cut shares of Canadian Solar from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Finally, Roth Capital set a $11.00 target price on shares of Canadian Solar and gave the company a "neutral" rating in a research report on Friday, May 16th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $11.86.

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.