Is Canadian Solar Inc. (CSIQ) a good stock to buy now?

Canadian Solar Inc. (NASDAQ: CSIQ) is 0.86% higher on its value in year-to-date trading and has touched a low of $12.00 and a high of $25.35 in the current 52-week trading range. The CSIQ stock was last observed hovering at around $22.29 in the recent trading session, with the current gains setting it 1.3% off its average median price target of $22.65 for the next 12 months. It is also 15.75% off the consensus price target high of $28.00 offered by 6 analysts, but current levels are -17.95% lower than the price target low of $20.00 for the same period.


The 2021 Backdoor Crypto Portfolio (free)

Even if you’re not actively in crypto, you deserve to know what’s actually going on...

Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.

Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free.

Sponsored


At last check, trading at $23.59, the stock is 25.52% and 27.65% above its SMA20 and SMA50 respectively. However, with a current trading volume of 0.56 million and changing 5.83% at the moment leaves the stock 25.32% off its SMA200. CSIQ registered 1.83% gain for a year compared to 6-month loss of -0.13%. The firm has a 50-day simple moving average (SMA 50) of $18.86 and a 200-day simple moving average (SMA200) of $19.20.

The stock witnessed a 15.91% gain in the last 1 month and extending the period to 3 months gives it a 36.16%, and is 17.13% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.59% over the week and 4.70% over the month.

Canadian Solar Inc. (CSIQ) has around 13478 employees, a market worth around $1.27B and $3.20B in sales. Current P/E ratio is 7.81 and Fwd P/E is 7.24. Profit margin for the company is 5.40%. Distance from 52-week low is 96.58% and -6.94% from its 52-week high. The company has generated returns on investments over the last 12 months (5.70%).

Canadian Solar Inc. (CSIQ) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Canadian Solar Inc. (CSIQ) is a “Overweight”. 6 analysts offering their recommendations for the stock have an average rating of 2.30, where 3 rate it as a Hold and 0 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Canadian Solar Inc. is expected to release its quarterly report on 08/13/2020 and quarterly earnings per share for the current quarter are estimated at -$0.06 with sales reaching $658.79M over the same period.The EPS is expected to shrink by -26.80% this year, but quarterly earnings will post 11.10% year-over-year. Quarterly sales are estimated to shrink -36.40% in year-over-year returns.

Canadian Solar Inc. (CSIQ) Top Institutional Holders

162 institutions hold shares in Canadian Solar Inc. (CSIQ), with 13.91M shares held by insiders accounting for 23.43% while institutional investors hold 64.16% of the company’s shares. The shares outstanding are 59.85M, and float is at 45.13M with Short Float at 5.64%. Institutions hold 49.13% of the Float.

The top institutional shareholder in the company is Schroder Investment Management Group with over 4.31 million shares valued at $68.5 million. The investor’s holdings represent 7.25% of the CSIQ Shares outstanding. As of Mar 30, 2020, the second largest holder is Lion Point Capital, LP with 4.29 million shares valued at $68.18 million to account for 7.22% of the shares outstanding. The other top investors are Blackrock Inc. which holds 2.4 million shares representing 4.05% and valued at over $38.21 million, while Morgan Stanley holds 3.42% of the shares totaling 2.03 million with a market value of $32.32 million.

#####

#####

#####

#####

Canadian Solar Inc. (CSIQ): Who are the competitors?

The company’s main competitors (and peers) include SunPower Corporation (SPWR) that is trading -30.51% down over the past 12 months. JinkoSolar Holding Co. Ltd. (JKS) is -4.60% down on the 1-year trading charts. Short interest in the company’s stock has fallen -15.35% from the last report on May 14, 2020 to stand at a total of 2.93 million short shares sold with a short interest ratio of 2.25.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free