Charles Schwab Investment Management Inc. Has $2.17 Million Holdings in Canadian Solar Inc. $CSIQ

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Canadian Solar Inc. by 38.9%, acquiring an additional 70,412 shares, bringing its total ownership to approximately 0.38% valued at $2.17 million.
• Canadian Solar reported a loss of $0.53 per share for the last quarter, significantly missing the consensus estimate of $0.76, alongside a revenue of $1.69 billion, below the expected $1.90 billion.
• Recent analyst ratings saw Zacks research downgrade Canadian Solar from "hold" to "strong sell," while various analysts set a price target range between $11.00 to $15.00.

Charles Schwab Investment Management Inc. lifted its position in Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) by 38.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 251,204 shares of the solar energy provider's stock after acquiring an additional 70,412 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.38% of Canadian Solar worth $2,173,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. IvyRock Asset Management HK Ltd lifted its position in shares of Canadian Solar by 87.8% in the 1st quarter. IvyRock Asset Management HK Ltd now owns 2,607,700 shares of the solar energy provider's stock valued at $22,557,000 after acquiring an additional 1,219,200 shares in the last quarter. Wells Fargo & Company MN lifted 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 in the last quarter. Cerity Partners LLC lifted its position in shares of Canadian Solar by 52.2% in the 1st quarter. Cerity Partners LLC now owns 374,966 shares of the solar energy provider's stock valued at $3,243,000 after acquiring an additional 128,669 shares in the last quarter. Northern Trust Corp lifted its position in shares of Canadian Solar by 89.9% in the 4th quarter. Northern Trust Corp now owns 26,319 shares of the solar energy provider's stock valued at $293,000 after acquiring an additional 12,458 shares in the last quarter. Finally, Mariner LLC lifted its position in shares of Canadian Solar by 100.0% in the 4th quarter. Mariner LLC now owns 20,000 shares of the solar energy provider's stock valued at $222,000 after acquiring an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 52.36% of the company's stock.

Canadian Solar Stock Down 0.7%

Shares of CSIQ traded down $0.07 during mid-day trading on Wednesday, hitting $9.92. 907,649 shares of the company's stock were exchanged, compared to its average volume of 1,643,619. The firm has a fifty day moving average of $11.93 and a two-hundred day moving average of $10.48. Canadian Solar Inc. has a twelve month low of $6.57 and a twelve month high of $19.55. The stock has a market cap of $664.34 million, a price-to-earnings ratio of -16.53 and a beta of 1.16. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.98.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last posted its earnings results on Thursday, August 21st. The solar energy provider reported ($0.53) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($1.29). Canadian Solar had a negative net margin of 0.12% and a negative return on equity of 4.97%. The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the previous year, the business posted $0.02 earnings per share. The business's quarterly revenue was up 3.6% compared to the same quarter last year. 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 year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CSIQ. The Goldman Sachs Group increased their target price on shares of Canadian Solar from $8.00 to $9.00 and gave the stock a "sell" rating in a research report on Friday, May 16th. Citigroup cut their target price 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, August 21st. Wall Street Zen downgraded shares of Canadian Solar from a "hold" rating to a "sell" rating in a research report on Saturday. Wells Fargo & Company cut their target price 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. Finally, Mizuho cut their target price on shares of Canadian Solar from $17.00 to $15.00 and set an "outperform" rating for the company in a research report on Friday, August 22nd. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $11.69.

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.