Schwab Charles Investment Management Inc. Has $957,000 Holdings in Canadian Solar Inc. (CSIQ)

Schwab Charles Investment Management Inc. lifted its stake in Canadian Solar Inc. (NASDAQ:CSIQ) by 8.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,173 shares of the solar energy provider’s stock after purchasing an additional 5,890 shares during the period. Schwab Charles Investment Management Inc. owned about 0.13% of Canadian Solar worth $957,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Canadian Solar by 1.0% in the 1st quarter. BlackRock Inc. now owns 2,478,858 shares of the solar energy provider’s stock worth $40,331,000 after acquiring an additional 25,550 shares in the last quarter. Bayesian Capital Management LP acquired a new position in shares of Canadian Solar in the 1st quarter worth approximately $303,000. Element Capital Management LLC acquired a new position in shares of Canadian Solar in the 1st quarter worth approximately $456,000. Hussman Strategic Advisors Inc. boosted its holdings in shares of Canadian Solar by 35.7% in the 2nd quarter. Hussman Strategic Advisors Inc. now owns 203,500 shares of the solar energy provider’s stock worth $2,491,000 after acquiring an additional 53,500 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Canadian Solar by 27.7% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 714,362 shares of the solar energy provider’s stock worth $8,744,000 after buying an additional 155,087 shares in the last quarter. Hedge funds and other institutional investors own 36.03% of the company’s stock.

NASDAQ:CSIQ opened at $15.16 on Wednesday. Canadian Solar Inc. has a 52-week low of $11.37 and a 52-week high of $19.09. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.84 and a current ratio of 0.93. The firm has a market cap of $841.05 million, a price-to-earnings ratio of 14.58, a PEG ratio of 0.32 and a beta of 2.27.

Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings data on Tuesday, August 14th. The solar energy provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.01). The firm had revenue of $650.10 million for the quarter, compared to analyst estimates of $711.53 million. Canadian Solar had a return on equity of 12.44% and a net margin of 3.26%. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 EPS. On average, analysts expect that Canadian Solar Inc. will post 1.73 earnings per share for the current year.

CSIQ has been the topic of several research reports. ValuEngine downgraded Canadian Solar from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 20th. BidaskClub raised Canadian Solar from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. Zacks Investment Research downgraded Canadian Solar from a “hold” rating to a “sell” rating in a report on Tuesday, July 17th. Finally, B. Riley set a $18.00 price objective on Canadian Solar and gave the stock a “hold” rating in a report on Wednesday, August 15th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $17.67.

About Canadian Solar

Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power products primarily under the Canadian Solar brand name. The company operates through two segments, Module and System Solutions, and Energy. Its products include various solar modules that are used in residential, commercial, and industrial solar power generation systems.

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Institutional Ownership by Quarter for Canadian Solar (NASDAQ:CSIQ)

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