Mackenzie Financial Corp Grows Stock Position in Canadian Solar Inc. (NASDAQ:CSIQ)

Mackenzie Financial Corp raised its position in shares of Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,523,565 shares of the solar energy provider's stock after acquiring an additional 357,900 shares during the quarter. Mackenzie Financial Corp owned approximately 8.35% of Canadian Solar worth $61,422,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CSIQ. Barclays PLC raised its holdings in shares of Canadian Solar by 494.4% during the third quarter. Barclays PLC now owns 115,328 shares of the solar energy provider's stock valued at $1,932,000 after acquiring an additional 95,924 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Canadian Solar by 24.5% during the fourth quarter. SG Americas Securities LLC now owns 85,545 shares of the solar energy provider's stock valued at $951,000 after acquiring an additional 16,815 shares during the last quarter. Shah Capital Management raised its holdings in shares of Canadian Solar by 825.6% during the fourth quarter. Shah Capital Management now owns 1,745,546 shares of the solar energy provider's stock valued at $19,410,000 after acquiring an additional 1,556,964 shares during the last quarter. Waterfront Wealth Inc. raised its holdings in shares of Canadian Solar by 16.9% during the fourth quarter. Waterfront Wealth Inc. now owns 185,175 shares of the solar energy provider's stock valued at $2,059,000 after acquiring an additional 26,778 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Canadian Solar by 59.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 180,792 shares of the solar energy provider's stock valued at $2,010,000 after acquiring an additional 67,331 shares during the last quarter. Institutional investors and hedge funds own 52.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CSIQ. Wells Fargo & Company increased their price target on Canadian Solar from $10.00 to $11.00 and gave the company an "equal weight" rating in a report on Friday, May 16th. Wall Street Zen raised Canadian Solar from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Mizuho increased their price target on Canadian Solar from $16.00 to $17.00 and gave the company an "outperform" rating in a report on Monday, May 19th. The Goldman Sachs Group increased their price target on Canadian Solar from $8.00 to $9.00 and gave the company a "sell" rating in a report on Friday, May 16th. Finally, Roth Capital set a $11.00 price target on Canadian Solar and gave the company a "neutral" rating in a report on Friday, May 16th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $16.77.

Canadian Solar Trading Down 0.4%

Shares of CSIQ traded down $0.05 during midday trading on Friday, hitting $10.30. 516,632 shares of the stock were exchanged, compared to its average volume of 1,870,514. Canadian Solar Inc. has a 52-week low of $6.57 and a 52-week high of $21.05. The stock has a fifty day simple moving average of $9.03 and a 200 day simple moving average of $10.42. The firm has a market cap of $689.48 million, a P/E ratio of -86.00, a P/E/G ratio of 0.74 and a beta of 1.35. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 1.06.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The solar energy provider reported ($1.07) EPS for the quarter, topping the consensus estimate of ($1.50) by $0.43. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.11 billion. Canadian Solar had a return on equity of 0.02% and a net margin of 0.01%. The company's quarterly revenue was down 10.0% on a year-over-year basis. During the same period last year, the business posted $0.19 earnings per share. On average, research analysts anticipate that Canadian Solar Inc. will post -0.23 EPS for the current fiscal year.

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.