Canadian Solar Inc. $CSIQ Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lessened its holdings in shares of Canadian Solar Inc. (NASDAQ:CSIQ) by 4.5% during the 3rd quarter, Holdings Channel reports. The firm owned 5,619,515 shares of the solar energy provider’s stock after selling 265,350 shares during the period. Mackenzie Financial Corp owned approximately 0.08% of Canadian Solar worth $73,278,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CSIQ. JPMorgan Chase & Co. grew its holdings in shares of Canadian Solar by 206.6% in the third quarter. JPMorgan Chase & Co. now owns 571,893 shares of the solar energy provider’s stock valued at $7,457,000 after purchasing an additional 385,355 shares in the last quarter. Legal & General Group Plc increased its stake in Canadian Solar by 21.7% during the 2nd quarter. Legal & General Group Plc now owns 1,815,113 shares of the solar energy provider’s stock worth $20,039,000 after buying an additional 324,254 shares during the period. SG Americas Securities LLC lifted its holdings in Canadian Solar by 646.2% during the 3rd quarter. SG Americas Securities LLC now owns 236,289 shares of the solar energy provider’s stock worth $3,081,000 after buying an additional 204,623 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Canadian Solar by 20.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 842,703 shares of the solar energy provider’s stock valued at $9,539,000 after buying an additional 145,867 shares during the period. Finally, Quantbot Technologies LP purchased a new position in Canadian Solar in the 3rd quarter valued at approximately $1,640,000. Hedge funds and other institutional investors own 52.36% of the company’s stock.

Analyst Upgrades and Downgrades

CSIQ has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Canadian Solar in a research report on Monday, December 29th. Daiwa Securities Group upgraded Canadian Solar from a “neutral” rating to an “outperform” rating and set a $30.00 target price for the company in a report on Tuesday, December 2nd. Mizuho reissued an “underperform” rating and set a $21.00 target price (up from $15.00) on shares of Canadian Solar in a research note on Wednesday, November 19th. UBS Group increased their price target on Canadian Solar from $15.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. Finally, Roth Mkm increased their price target on Canadian Solar from $11.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, November 17th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $19.85.

Canadian Solar Trading Up 1.9%

Shares of NASDAQ:CSIQ opened at $17.69 on Thursday. Canadian Solar Inc. has a 52 week low of $6.57 and a 52 week high of $34.59. The company’s 50 day moving average is $20.24 and its two-hundred day moving average is $19.34. The company has a market cap of $1.18 billion, a PE ratio of -49.14 and a beta of 1.31. The company has a current ratio of 1.07, a quick ratio of 0.86 and a debt-to-equity ratio of 0.93.

Canadian Solar Profile

Canadian Solar Inc (NASDAQ: CSIQ) is a global renewable energy company that specializes in the design, development and manufacturing of solar photovoltaic (PV) modules and system solutions. Founded in 2001 and headquartered in Guelph, Ontario, the company has grown to become one of the world’s largest solar module suppliers. Canadian Solar offers a comprehensive portfolio of products, including mono- and multi-crystalline solar cells and modules, as well as advanced energy storage and system integration solutions tailored for residential, commercial and utility-scale applications.

In addition to manufacturing solar components, Canadian Solar provides end-to-end services encompassing project development, engineering, procurement and construction (EPC), as well as operations and maintenance.