Canadian Solar Inc (NASDAQ:CSIQ) price on Friday, February 07, fall -1.07% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $10.18.
A look at the stock’s price movement, the close in the last trading session was $10.29, moving within a range at $10.04 and $10.4892. The beta value (5-Year monthly) was 1.337 while the PE ratio in trailing twelve months stood at 855.46. Turning to its 52-week performance, $24.32 and $9.56 were the 52-week high and 52-week low respectively. Overall, CSIQ moved -23.40% over the past month.
Canadian Solar Inc’s market cap currently stands at around $673.66 million, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 1.57B for the company’s revenue for the quarter, with a low and high estimate of 1.47B and 1.62B respectively. The average forecast suggests down to a -7.93% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 6.07B, representing a -20.34% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that CSIQ is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
4 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 2 recommend CSIQ as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 2 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
CSIQ’s current price about -5.01% and -11.81% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 41.59, while 7-day volatility ratio is 5.15% and 4.98% in the 30-day chart. Further, Canadian Solar Inc (CSIQ) has a beta value of 1.34, and an average true range (ATR) of 0.60. Analysts have given the company’s stock an average 52-week price target of $15, forecast between a low of $11 and high of $27. Looking at the price targets, the low is -8.06% off current price level while to achieve the yearly target high, price needs to move -165.23%. Nonetheless, investors will most likely welcome a -47.35% jump to $15 which is the analysts’ median price.
If we refocus on Canadian Solar Inc (NASDAQ:CSIQ), historical trading data shows that trading volumes averaged 1.49 over the past 10 days and 1.88 million over the past 3 months. The company’s latest data on shares outstanding shows there are 66.16 million shares.
The 28.53% of Canadian Solar Inc’s shares are in the hands of company insiders while institutional holders own 53.54% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 10.36 million on 2024-11-15, giving us a short ratio of 3.8. The data shows that as of 2024-11-15 short interest in Canadian Solar Inc (CSIQ) stood at 1987.0001000000002 of shares outstanding, with shares short rising to 8.47 million registered in 2024-10-15. Current price change has pushed the stock -8.45% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CSIQ stock continues to rise going into the next quarter.
