Canadian Solar Inc (NASDAQ:CSIQ) shares, rose in value, with the stock price up by 0.77% to the previous day’s close as strong demand from buyers drove the stock to $10.45.
Actively observing the price movement in the recent trading, the stock is buoying the session at $10.37, falling within a range of $10.22 and $10.5094. The value of beta (5-year monthly) is 1.337 whereas the PE ratio is 878.15 over 12-month period. Referring to stock’s 52-week performance, its high was $25.43, and the low was $10.33. On the whole, CSIQ has fluctuated by -2.88% over the past month.
With the market capitalization of Canadian Solar Inc currently standing at about $691.52 million, investors are eagerly awaiting this quarter’s results, scheduled for in February.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 6.08B, with a low estimate of 1.54B and a high estimate of 1.99B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 1.63B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that CSIQ’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 109.77, with the price of CSIQ currently trading nearly -10.00% and -11.79% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 37.01, while the 7-day volatility ratio is showing 4.72% which for the 30-day chart, stands at 5.43%. Furthermore, Canadian Solar Inc (CSIQ)’s beta value is 1.25, and its average true range (ATR) is 0.67.
A comparison of Canadian Solar Inc (CSIQ) with its peers suggests the former has fared considerably weaker in the market. CSIQ showed an intraday change of 0.77% in today’s session so far, and over the past year, it shrunk by -50.36%%.
Data on historical trading for Canadian Solar Inc (NASDAQ:CSIQ) indicates that the trading volumes over the past 10 days have averaged 1.68 and over the past 3 months, they’ve averaged 2.16 million. According to company’s latest data on outstanding shares, there are 66.16 million shares outstanding.
Nearly 28.53% of Canadian Solar Inc’s shares belong to company insiders and institutional investors own 51.44% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 10.36 million shares as on 2024-11-15, resulting in a short ratio of 3.8. According to the data, the short interest in Canadian Solar Inc (CSIQ) stood at 1987.00 of shares outstanding as of 2024-11-15; the number of short shares registered in 2024-10-15 reached 8.47 million. The stock has fallen by -6.03% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CSIQ stock heading into the next quarter.
