Shah Capital Management Trims Position in Canadian Solar Inc. $CSIQ

Key Points

• Shah Capital Management has reduced its holdings in Canadian Solar Inc. by 1.3%, selling 25,400 shares in the second quarter, resulting in a total of 1,880,885 shares owned.
• Canadian Solar reported a loss of ($0.53) earnings per share in its latest earnings results, missing analysts' expectations of $0.76, while revenue was $1.69 billion, below the predicted $1.90 billion.
• Institutional investors currently hold 52.36% of Canadian Solar's stock, with multiple firms modifying their positions, including significant increases by Templeton & Phillips Capital Management and Summit Securities Group.

Shah Capital Management reduced its holdings in Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) by 1.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,880,885 shares of the solar energy provider's stock after selling 25,400 shares during the quarter. Canadian Solar makes up about 4.0% of Shah Capital Management's portfolio, making the stock its 6th largest holding. Shah Capital Management owned about 2.81% of Canadian Solar worth $20,765,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Templeton & Phillips Capital Management LLC raised its holdings in Canadian Solar by 14.6% during the 1st quarter. Templeton & Phillips Capital Management LLC now owns 14,481 shares of the solar energy provider's stock worth $125,000 after purchasing an additional 1,843 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Canadian Solar by 11.3% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 21,874 shares of the solar energy provider's stock worth $189,000 after buying an additional 2,217 shares during the period. Robotti Robert raised its stake in Canadian Solar by 0.6% during the first quarter. Robotti Robert now owns 490,880 shares of the solar energy provider's stock worth $4,246,000 after buying an additional 3,000 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Canadian Solar in the first quarter valued at $39,000. Finally, Summit Securities Group LLC boosted its position in Canadian Solar by 598.5% during the first 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 last quarter. Institutional investors own 52.36% of the company's stock.

Canadian Solar Stock Down 0.7%

Canadian Solar stock opened at $15.10 on Tuesday. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -25.17 and a beta of 1.28. The firm's fifty day moving average price is $11.84 and its two-hundred day moving average price is $10.82. Canadian Solar Inc. has a 1-year low of $6.57 and a 1-year high of $19.55. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.98.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last posted its 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). Canadian Solar had a negative return on equity of 4.97% and a negative net margin of 0.12%.The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the prior year, the company earned $0.02 EPS. The company's revenue 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. On average, equities research analysts predict that Canadian Solar Inc. will post -0.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. UBS Group dropped their price objective on Canadian Solar from $17.00 to $15.00 and set a "buy" rating on the stock in a research note on Wednesday, September 17th. JPMorgan Chase & Co. boosted their price target on Canadian Solar from $7.00 to $8.00 and gave the company an "underweight" rating in a research note on Friday, September 19th. Mizuho cut their price target on Canadian Solar from $17.00 to $15.00 and set an "outperform" rating on the stock in a report on Friday, August 22nd. Citigroup lowered their price objective on shares of Canadian Solar from $12.50 to $11.00 and set a "neutral" rating for the company in a research note on Thursday, August 21st. Finally, Zacks Research upgraded shares of Canadian Solar from a "strong sell" rating to a "hold" rating in a research report on Friday, September 19th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Canadian Solar currently has a consensus rating of "Hold" and a consensus price target of $11.64.

Canadian Solar 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.

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