Charles Schwab Investment Management Inc. Acquires 67,331 Shares of Canadian Solar Inc. (NASDAQ:CSIQ)

Charles Schwab Investment Management Inc. grew its stake in Canadian Solar Inc. (NASDAQ:CSIQ) by 59.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 180,792 shares of the solar energy provider’s stock after buying an additional 67,331 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Canadian Solar were worth $2,010,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. USCF Advisers LLC grew its position in Canadian Solar by 66.7% in the 4th quarter. USCF Advisers LLC now owns 2,500 shares of the solar energy provider’s stock valued at $28,000 after purchasing an additional 1,000 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of 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 worth $149,000 after buying an additional 1,500 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in 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 valued at $1,847,000 after buying an additional 1,522 shares during the period. Sanctuary Advisors LLC increased its stake in shares of Canadian Solar by 37.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 31,029 shares of the solar energy provider’s stock worth $520,000 after purchasing an additional 8,404 shares during the last quarter. Finally, Miracle Mile Advisors LLC purchased a new position in Canadian Solar in the fourth quarter valued at approximately $133,000. 52.36% of the stock is currently owned by institutional investors.

Canadian Solar Price Performance

Shares of NASDAQ:CSIQ opened at $9.23 on Friday. The company’s fifty day moving average is $10.26 and its 200 day moving average is $12.05. The company has a quick ratio of 0.85, a current ratio of 1.06 and a debt-to-equity ratio of 0.65. Canadian Solar Inc. has a 52 week low of $9.13 and a 52 week high of $21.05. The stock has a market cap of $610.65 million, a PE ratio of -76.92, a PEG ratio of 0.74 and a beta of 1.34.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings data on Tuesday, March 25th. The solar energy provider reported ($1.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($1.26). The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period last year, the company posted ($0.02) EPS. Research analysts anticipate that Canadian Solar Inc. will post -0.23 earnings per share for the current year.

Analysts Set New Price Targets

CSIQ has been the topic of a number of research reports. Wells Fargo & Company lowered their price objective on Canadian Solar from $13.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. The Goldman Sachs Group dropped their price objective on Canadian Solar from $11.00 to $9.00 and set a “sell” rating on the stock in a report on Wednesday. StockNews.com lowered Canadian Solar from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Mizuho initiated coverage on shares of Canadian Solar in a research report on Friday, December 13th. They issued an “outperform” rating and a $20.00 price objective for the company. Finally, Citigroup lowered their price objective on Canadian Solar from $12.00 to $11.00 and set a “sell” rating on the stock in a research report on Wednesday. Five investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $17.84.

Canadian Solar 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.