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.

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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.

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