Canadian Solar Inc. $CSIQ Shares Acquired by Legal & General Group Plc

Legal & General Group Plc lifted its holdings in shares of Canadian Solar Inc. (NASDAQ:CSIQ) by 21.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,815,113 shares of the solar energy provider’s stock after purchasing an additional 324,254 shares during the period. Legal & General Group Plc owned about 2.71% of Canadian Solar worth $20,039,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Invesco Ltd. increased its position in Canadian Solar by 15.5% during the first quarter. Invesco Ltd. now owns 2,311,596 shares of the solar energy provider’s stock worth $19,995,000 after buying an additional 310,564 shares in the last quarter. Shah Capital Management increased its position in Canadian Solar by 9.2% during the 1st quarter. Shah Capital Management now owns 1,906,285 shares of the solar energy provider’s stock worth $16,489,000 after purchasing an additional 160,739 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. raised its stake in Canadian Solar by 60.4% in the 1st quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 1,115,861 shares of the solar energy provider’s stock valued at $9,652,000 after purchasing an additional 420,000 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Canadian Solar by 20.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 548,853 shares of the solar energy provider’s stock valued at $4,748,000 after purchasing an additional 92,002 shares during the last quarter. Finally, Robotti Robert lifted its holdings in Canadian Solar by 0.6% in the 1st quarter. Robotti Robert now owns 490,880 shares of the solar energy provider’s stock valued at $4,246,000 after purchasing an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors own 52.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CSIQ. Zacks Research upgraded shares of Canadian Solar from a “strong sell” rating to a “hold” rating in a report on Friday, September 19th. Wells Fargo & Company cut their price target on Canadian Solar from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Wednesday, September 3rd. UBS Group raised their price objective on Canadian Solar from $15.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, November 19th. JPMorgan Chase & Co. upped their target price on Canadian Solar from $9.00 to $10.00 and gave the company an “underweight” rating in a research note on Friday, November 14th. Finally, The Goldman Sachs Group increased their target price on Canadian Solar from $9.00 to $10.00 and gave the stock a “sell” rating in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $18.58.

Canadian Solar Price Performance

Shares of Canadian Solar stock opened at $27.12 on Friday. The business’s fifty day moving average price is $19.58 and its 200 day moving average price is $14.22. Canadian Solar Inc. has a twelve month low of $6.57 and a twelve month high of $34.59. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $1.82 billion, a P/E ratio of -45.20 and a beta of 1.35.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings results on Thursday, November 13th. The solar energy provider reported ($0.58) EPS for the quarter, topping the consensus estimate of ($1.08) by $0.50. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.37 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 down 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.31) earnings per share. Canadian Solar has set its Q4 2025 guidance at EPS. As a group, research analysts anticipate that Canadian Solar Inc. will post -0.23 earnings per share for the current year.

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.