Charles Schwab Investment Management Inc. Has $2.01 Million Stock Holdings in Canadian Solar Inc. (NASDAQ:CSIQ)

Charles Schwab Investment Management Inc. grew its stake in Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) by 59.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 180,792 shares of the solar energy provider's stock after purchasing an additional 67,331 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.27% of Canadian Solar worth $2,010,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Daiwa Securities Group Inc. raised its holdings in Canadian Solar by 20.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 8,900 shares of the solar energy provider's stock valued at $149,000 after acquiring an additional 1,500 shares during the period. Quantbot Technologies LP bought a new position in shares of Canadian Solar during the third quarter worth approximately $1,109,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Canadian Solar by 1.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 110,188 shares of the solar energy provider's stock worth $1,847,000 after purchasing an additional 1,522 shares during the period. State Street Corp lifted its holdings in Canadian Solar by 5.6% during the 3rd quarter. State Street Corp now owns 486,800 shares of the solar energy provider's stock worth $8,159,000 after purchasing an additional 25,901 shares during the last quarter. Finally, Barclays PLC boosted its stake in Canadian Solar by 494.4% in the 3rd quarter. Barclays PLC now owns 115,328 shares of the solar energy provider's stock valued at $1,932,000 after purchasing an additional 95,924 shares during the period. Institutional investors and hedge funds own 52.36% of the company's stock.

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Wall Street Analyst Weigh In

CSIQ has been the topic of several recent research reports. The Goldman Sachs Group lowered their price objective on Canadian Solar from $11.00 to $9.00 and set a "sell" rating on the stock in a research report on Wednesday, March 26th. Wells Fargo & Company dropped their price objective on shares of Canadian Solar from $13.00 to $10.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 8th. Mizuho assumed coverage on shares of Canadian Solar in a research report on Friday, December 13th. They set an "outperform" rating and a $20.00 target price on the stock. StockNews.com downgraded shares of Canadian Solar from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. Finally, Citigroup reduced their price target on Canadian Solar from $12.00 to $11.00 and set a "sell" rating on the stock in a research report on Wednesday, March 26th. Five investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $17.84.

Canadian Solar Price Performance

Shares of CSIQ stock traded down $0.03 on Tuesday, hitting $8.62. 1,061,721 shares of the company's stock were exchanged, compared to its average volume of 1,852,044. The company has a 50 day moving average of $10.21 and a 200 day moving average of $11.99. The stock has a market cap of $570.29 million, a P/E ratio of -71.83, a price-to-earnings-growth ratio of 0.74 and a beta of 1.34. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.06 and a quick ratio of 0.85. Canadian Solar Inc. has a 12 month low of $8.36 and a 12 month high of $21.05.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last posted its earnings results on Tuesday, March 25th. The solar energy provider reported ($1.47) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($1.26). The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.57 billion. Canadian Solar had a return on equity of 0.02% and a net margin of 0.01%. The firm's revenue was down 1.8% compared to the same quarter last year. During the same period last year, the company posted ($0.02) EPS. On average, equities research analysts predict that Canadian Solar Inc. will post -0.23 EPS for the current 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.