Canadian Solar Inc. $CSIQ Stock Holdings Lessened by Greenwoods Asset Management Hong Kong Ltd.

Greenwoods Asset Management Hong Kong Ltd. reduced its position in Canadian Solar Inc. (NASDAQ:CSIQ) by 70.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 335,183 shares of the solar energy provider’s stock after selling 780,678 shares during the period. Canadian Solar comprises approximately 0.1% of Greenwoods Asset Management Hong Kong Ltd.’s holdings, making the stock its 25th largest position. Greenwoods Asset Management Hong Kong Ltd.’s holdings in Canadian Solar were worth $3,700,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CSIQ. IvyRock Asset Management HK Ltd raised its stake in shares of Canadian Solar by 87.8% during 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 purchasing an additional 1,219,200 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Canadian Solar by 38.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 251,204 shares of the solar energy provider’s stock valued at $2,173,000 after acquiring an additional 70,412 shares during the period. Counterpoint Mutual Funds LLC acquired a new stake in Canadian Solar in the 2nd quarter valued at approximately $382,000. Aberdeen Group plc increased its position in Canadian Solar by 109.2% during the first quarter. Aberdeen Group plc now owns 97,145 shares of the solar energy provider’s stock worth $840,000 after acquiring an additional 50,714 shares during the period. Finally, Cerity Partners LLC raised its position in shares of Canadian Solar by 52.2% during the first 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 during the last quarter. 52.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on CSIQ. Jefferies Financial Group reaffirmed a “hold” rating and set a $19.64 price objective (up from $13.70) on shares of Canadian Solar in a report on Monday, November 3rd. Wall Street Zen upgraded Canadian Solar from a “sell” rating to a “hold” rating in a research note on Friday, September 26th. Zacks Research raised Canadian Solar from a “strong sell” rating to a “hold” rating in a report on Friday, September 19th. The Goldman Sachs Group raised their target price on shares of Canadian Solar from $9.00 to $10.00 and gave the company a “sell” rating in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Canadian Solar from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Thursday, October 16th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, Canadian Solar presently has an average rating of “Reduce” and an average target price of $12.58.

Canadian Solar Stock Down 8.0%

CSIQ opened at $29.80 on Wednesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.87 and a current ratio of 1.09. The company has a market capitalization of $2.00 billion, a P/E ratio of -49.67 and a beta of 1.35. Canadian Solar Inc. has a fifty-two week low of $6.57 and a fifty-two week high of $33.75. The stock has a fifty day moving average of $15.54 and a 200-day moving average of $12.71.

Canadian Solar (NASDAQ:CSIQ) last released its earnings results on Thursday, August 21st. The solar energy provider reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($1.29). The company had revenue of $1.69 billion for 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 last year, the company posted $0.02 earnings per share. Canadian Solar has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts expect that Canadian Solar Inc. will post -0.23 EPS for the current year.

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.