North Growth Management Ltd. Has $1.34 Million Stock Position in Canadian Solar Inc. (NASDAQ:CSIQ)

North Growth Management Ltd. lifted its holdings in Canadian Solar Inc. (NASDAQ:CSIQFree Report) by 8.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,000 shares of the solar energy provider’s stock after acquiring an additional 4,000 shares during the period. North Growth Management Ltd. owned approximately 0.08% of Canadian Solar worth $1,337,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of CSIQ. Mackenzie Financial Corp raised its position in shares of Canadian Solar by 27.1% in the fourth quarter. Mackenzie Financial Corp now owns 3,952,015 shares of the solar energy provider’s stock valued at $103,661,000 after buying an additional 843,100 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its holdings in shares of Canadian Solar by 137.9% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,761,422 shares of the solar energy provider’s stock worth $92,569,000 after purchasing an additional 2,180,240 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Canadian Solar by 0.4% in the third quarter. Vanguard Group Inc. now owns 1,964,359 shares of the solar energy provider’s stock worth $48,343,000 after purchasing an additional 8,317 shares during the period. Schroder Investment Management Group raised its stake in Canadian Solar by 13.4% in the third quarter. Schroder Investment Management Group now owns 1,361,724 shares of the solar energy provider’s stock valued at $33,512,000 after purchasing an additional 161,224 shares in the last quarter. Finally, Guinness Asset Management LTD lifted its position in Canadian Solar by 5.7% during the third quarter. Guinness Asset Management LTD now owns 1,115,502 shares of the solar energy provider’s stock worth $27,454,000 after purchasing an additional 60,392 shares during the period. 52.36% of the stock is owned by institutional investors.

Canadian Solar Trading Up 2.3 %

Shares of CSIQ stock traded up $0.36 during mid-day trading on Monday, hitting $16.06. The company’s stock had a trading volume of 1,554,367 shares, compared to its average volume of 1,503,979. Canadian Solar Inc. has a 52 week low of $14.11 and a 52 week high of $45.29. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.79 and a current ratio of 1.02. The company’s fifty day simple moving average is $17.75 and its 200-day simple moving average is $20.72. The company has a market cap of $1.06 billion, a PE ratio of 5.45, a P/E/G ratio of 0.23 and a beta of 1.29.

Canadian Solar (NASDAQ:CSIQGet Free Report) last issued its earnings results on Thursday, May 9th. The solar energy provider reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.20. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.35 billion. Canadian Solar had a return on equity of 5.61% and a net margin of 2.80%. The firm’s revenue for the quarter was down 21.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.19 earnings per share. As a group, equities research analysts expect that Canadian Solar Inc. will post 2.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CSIQ has been the subject of several analyst reports. Wells Fargo & Company dropped their target price on shares of Canadian Solar from $28.00 to $23.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 19th. The Goldman Sachs Group cut their price target on Canadian Solar from $28.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, March 15th. StockNews.com raised Canadian Solar from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. Daiwa Capital Markets started coverage on shares of Canadian Solar in a research report on Monday, March 11th. They set a “neutral” rating and a $21.00 target price on the stock. Finally, Citigroup dropped their price target on shares of Canadian Solar from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $31.78.

Get Our Latest Stock Analysis on CSIQ

Canadian Solar Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CSIQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Solar Inc. (NASDAQ:CSIQFree Report).

Institutional Ownership by Quarter for Canadian Solar (NASDAQ:CSIQ)

Receive News & Ratings for Canadian Solar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Solar and related companies with MarketBeat.com's FREE daily email newsletter.