I've always liked CSIQ
Canadian Solar Inc. (NASDAQ:CSIQ) is a leading global designer and manufacturer of solar ingots, wafers, cells, modules, and other solar power and battery storage products. The stock is ranked among the top 10 small-cap stocks with the highest upside potential because it is making strides in the energy space and gaining popularity among financial experts and veteran investors.
Analysts are bullish on Canadian Solar Inc. (NASDAQ:CSIQ) and see the stock gaining more market share. This March, Citi analyst and head of investor relations J.B. Lowe raised his price target on Canadian Solar Inc. (NASDAQ:CSIQ) to $45 from $40 and reiterated a Buy rating on the shares.
This April, Canadian Solar Inc. (NASDAQ:CSIQ) announced a strategic partnership with Matrix Renewables, an emerging energy player in the U.S., in which both companies will be developing the Gaskell West 2 and 3 Project in California. The Gaskell West 2 and 3 Project has 5 long-term power purchase agreements with cities and utilities in California and contains over 105 MWac and 80 MWh in energy storage. Construction for the project is expected to take off in late 2022.
Canadian Solar Inc. (NASDAQ:CSIQ) just added another long-term project to its FY22 pipeline. On May 9 Canadian Solar Inc. (NASDAQ:CSIQ) announced that it has secured a 100 MWh EPC contract in the UK to provide integrated energy storage systems and engineering, procurement, and construction services at four battery storage projects that are owned and operated by Pulse Clean Energy, a prominent energy services company in the UK.
Canadian Solar Inc. (NASDAQ:CSIQ) is also gaining popularity among institutional investors. At the end of Q4 2021, 18 hedge funds were long Canadian Solar Inc. (NASDAQ:CSIQ) with stakes worth $39.52 million. This is compared to 12 hedge funds in the prior quarter with stakes of $35.73 million.
Millennium Management is the most bullish hedge fund onCanadian Solar Inc. (NASDAQ:CSIQ). The fund upped its Q4 2021 stakes by an astounding 392%, bringing its Q1 2022 stakes to $7.75 million in the company.
With the worldwide adoption of solar solutions to meet energy demands, Canadian Solar Inc. (NASDAQ:CSIQ) is bound to explode in the near term as the company is leading in the space and is attracting investors.