Aberdeen Group plc Acquires 50,714 Shares of Canadian Solar Inc. $CSIQ
Aberdeen Group plc boosted its holdings in Canadian Solar Inc. (NASDAQ:CSIQ — Free Report) by 109.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,145 shares of the solar energy provider’s stock after purchasing an additional 50,714 shares during the period. Aberdeen Group plc owned about 0.15% of Canadian Solar worth $840,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd bought a new position in shares of Canadian Solar in the 1st quarter valued at about $39,000. Wells Fargo & Company MN grew its position 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 acquiring an additional 3,347 shares during the period. Templeton & Phillips Capital Management LLC grew its position 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. Hsbc Holdings PLC bought a new position in shares of Canadian Solar in the 4th quarter valued at about $177,000. Finally, XTX Topco Ltd bought a new position in shares of Canadian Solar in the 1st quarter valued at about $157,000. Institutional investors own 52.36% of the company’s stock.
Canadian Solar Stock Performance
Shares of CSIQ stock opened at $10.39 on Friday. The company has a market capitalization of $695.82 million, a price-to-earnings ratio of -20.78 and a beta of 1.35. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.80 and a current ratio of 1.07. The company has a 50-day simple moving average of $11.95 and a 200 day simple moving average of $10.46. Canadian Solar Inc. has a 52 week low of $6.57 and a 52 week high of $19.55.
Canadian Solar (NASDAQ:CSIQ — Get Free Report) last announced its earnings results on Thursday, August 21st. The solar energy provider reported ($0.53) 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 the consensus estimate of $1.90 billion. Canadian Solar had a negative return on equity of 4.34% and a negative net margin of 0.18%.The business’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.02 EPS. Canadian Solar has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts predict that Canadian Solar Inc. will post -0.23 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on CSIQ shares. Citigroup decreased 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 report on Thursday. Wells Fargo & Company increased their price target 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. Roth Capital set a $11.00 price target on Canadian Solar and gave the company a “neutral” rating in a research note on Friday, May 16th. Mizuho dropped their price target on Canadian Solar from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Monday, June 2nd. Finally, Wall Street Zen upgraded Canadian Solar from a “sell” rating to a “hold” rating in a research note on Friday, May 16th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Canadian Solar presently has an average rating of “Hold” and an average target price of $14.77.
Read Our Latest Research Report on CSIQ
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.
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