Key Highlights

  • Canadian Solar shares are trading 2.59% lower at $9.42 on Wednesday, October 28, 2026.
  • Short interest was 19,452,394 shares for the settlement date of October 15, 2026, with about 13.6 days to cover.
  • Second-quarter revenue was $1,207.7 million, down 29% from a year earlier, with a gross margin of 13.9%.
  • Energy storage shipments reached 3.7 GWh, up 82% from the first quarter.
  • Third-quarter revenue guidance is $1.3 billion to $1.5 billion.

Canadian Solar Share Move: Why Is a Heavily Shorted Stock Edging Lower on Wednesday?

Canadian Solar (NASDAQ:CSIQ) shares are trading 2.59% lower at $9.42 on Wednesday, October 28, 2026, and the stock appears among the most shorted names. The implied prior close is about $9.67 (calculated), and the shares closed at $9.23 on Friday, October 23, 2026.

No release dated today explains the dip. About 67.82 million shares outstanding put the market value near $639 million (calculated), and the shares were down about 34% over the past 52 weeks as of October 23.

The company makes solar modules, sells battery energy storage through its e-STORAGE unit and develops projects through Recurrent Energy.

Canadian Solar Short Interest: How Large Is the Position Against the Stock?

Short-interest data for the settlement date of October 15, 2026 shows 19,452,394 shares sold short, down 399,835, or about 2.0%, from 19,852,229 at the September 30, 2026 settlement. That equals about 28.6% of shares outstanding (calculated), with roughly 13.6 days to cover on average daily volume of 1,432,638 shares.

A high days-to-cover figure means a rally could take time to unwind if shorts buy shares back, while a decline can attract more selling. The data does not explain today's dip.

Canadian Solar Second-Quarter Results: Can Storage Offset Weaker Module Sales?

In results released on August 27, 2026, revenue was $1,207.7 million, up 12% from the first quarter but down 29% from $1,693.9 million a year earlier. Gross profit was $168.5 million, a 13.9% margin versus 25.1% in the first quarter, which had included a $93 million tariff refund benefit.

The net loss attributable to shareholders widened to $76.9 million, or $1.40 per share, from $32.1 million, or $0.71. Operating expenses were $239.5 million, and operations used $180.8 million of cash.

Module shipments were 3.1 GW, up 25% sequentially but down 60% from a year earlier. Storage shipments reached 3.7 GWh, up 82% sequentially and 73% year over year, above the 2.8 to 3.2 GWh guidance, and the contracted e-STORAGE backlog was $3.5 billion at June 30, 2026.

Canadian Solar Debt and Guidance: How Heavy Is the Balance Sheet?

Total debt including financing liabilities was $7.1 billion at June 30, 2026, up from $6.8 billion at March 31. Recurrent Energy accounted for $4.1 billion, manufacturing $2.5 billion and convertible notes $0.4 billion, against balance sheet cash of $1,461.2 million.

For the third quarter, the company guided revenue to $1.3 billion to $1.5 billion, gross margin to 13.5% to 15.5%, module shipments to 3.5 GW to 3.8 GW and storage shipments to 3.4 GWh to 3.8 GWh. Full-year U.S. guidance of 6.5 GW to 7.0 GW of modules and 4.5 GWh to 5.5 GWh of storage was reiterated.

A new chief executive took over on May 14, 2026, and the founder moved to executive chairman and chief technology officer.

What to Watch Next: The Third-Quarter Report and the October 30 Short-Interest Update

The third-quarter report is the next catalyst; last year the company reported on Thursday, November 13, 2025. It will test the guided margin range, the storage ramp and cash use. Short-interest figures for the October 30, 2026 settlement are expected on November 10, 2026.