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

Greenwoods Asset Management Hong Kong Ltd. reduced its stake in shares of Canadian Solar Inc. (NASDAQ:CSIQ) by 70.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 335,183 shares of the solar energy provider’s stock after selling 780,678 shares during the quarter. Canadian Solar accounts for 0.1% of Greenwoods Asset Management Hong Kong Ltd.’s holdings, making the stock its 25th largest position. Greenwoods Asset Management Hong Kong Ltd. owned approximately 0.50% of Canadian Solar worth $3,700,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new stake in Canadian Solar during the 1st quarter worth approximately $39,000. Summit Securities Group LLC raised its holdings in shares of Canadian Solar by 598.5% during the 1st quarter. Summit Securities Group LLC now owns 7,020 shares of the solar energy provider’s stock worth $61,000 after acquiring an additional 6,015 shares during the period. Templeton & Phillips Capital Management LLC grew its stake 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 buying an additional 1,843 shares during the period. Hennessy Advisors Inc. acquired a new stake in Canadian Solar during the second quarter worth $143,000. Finally, XTX Topco Ltd purchased a new stake in Canadian Solar in the 1st quarter valued at about $157,000. Institutional investors and hedge funds own 52.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CSIQ shares. Jefferies Financial Group reiterated a “hold” rating and set a $19.64 target price (up from $13.70) on shares of Canadian Solar in a report on Monday, November 3rd. JPMorgan Chase & Co. raised their price objective on shares of Canadian Solar from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Thursday, October 16th. Weiss Ratings restated a “sell (d)” rating on shares of Canadian Solar in a research note on Wednesday, October 8th. Mizuho lowered 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. Finally, Wells Fargo & Company cut their price objective on shares of Canadian Solar from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 3rd. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, Canadian Solar presently has an average rating of “Reduce” and an average price target of $12.58.

Canadian Solar Stock Performance

Shares of NASDAQ:CSIQ opened at $29.80 on Wednesday. The business’s 50-day simple moving average is $15.54 and its 200 day simple moving average is $12.71. Canadian Solar Inc. has a one year low of $6.57 and a one year high of $33.75. 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 cap of $2.00 billion, a P/E ratio of -49.67 and a beta of 1.35.

Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $1.90 billion. Canadian Solar had a negative net margin of 0.12% and a negative return on equity of 4.97%. Canadian Solar’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.02 EPS. Canadian Solar has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts forecast that Canadian Solar Inc. will post -0.23 earnings per share for the current fiscal 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.