253 institutions hold shares in Canadian Solar Inc. (CSIQ), with 14.16M shares held by insiders accounting for 23.69% while institutional investors hold 63.13% of the company’s shares. The shares outstanding are 59.75M, and float is at 45.07M with Short Float at 10.15%. Institutions hold 48.17% of the Float.
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The top institutional shareholder in the company is Blackrock Inc. with over 6.82 million shares valued at $349.53 million. The investor’s holdings represent 11.49% of the CSIQ Shares outstanding. As of Dec 30, 2020, the second largest holder is Invesco Ltd. with 3.47 million shares valued at $177.84 million to account for 5.85% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 1.54 million shares representing 2.59% and valued at over $78.73 million, while Morgan Stanley holds 2.10% of the shares totaling 1.25 million with a market value of $63.85 million.
Canadian Solar Inc. (NASDAQ: CSIQ) is -9.54% lower on its value in year-to-date trading and has touched a low of $12.00 and a high of $67.39 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The CSIQ stock was last observed hovering at around $48.04 in the last trading session, with the day’s loss setting it -1.69% off its average median price target of $48.00 for the next 12 months. It is also 34.72% off the consensus price target high of $71.00 offered by 8 analysts, but current levels are -10.36% lower than the price target low of $42.00 for the same period.
Currently trading at $46.35, the stock is -19.41% and -13.09% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.31 million and changing -3.52% at the moment leaves the stock 33.14% off its SMA200. CSIQ registered 112.61% gain for a year compared to 6-month gain of 78.54%. The firm has a 50-day simple moving average (SMA 50) of $56.99 and a 200-day simple moving average (SMA200) of $41.79.
The stock witnessed a -26.43% loss in the last 1 month and extending the period to 3 months gives it a 24.73%, and is -19.92% down 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 8.27% over the week and 6.73% over the month.
Canadian Solar Inc. (CSIQ) has around 13478 employees, a market worth around $2.70B and $3.36B in sales. Current P/E ratio is 13.33 and Fwd P/E is 23.06. Profit margin for the company is 6.20%. Distance from 52-week low is 286.25% and -31.22% 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”. 8 analysts offering their recommendations for the stock have an average rating of 2.10, where 3 rate it as a Hold and 0 think it is a “Overweight”. 5 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 05/13/2021 and quarterly earnings per share for the current quarter are estimated at -$0.55 with sales reaching $997.88M over the same period.The EPS is expected to shrink by -26.80% this year, but quarterly earnings will post 7.30% year-over-year. Quarterly sales are estimated to grow 8.50% in year-over-year returns.
Canadian Solar Inc. (CSIQ): Who are the competitors?
The company’s main competitors (and peers) include SunPower Corporation (SPWR) that is trading 443.79% up over the past 12 months. First Solar Inc. (FSLR) is 69.83% up on the 1-year trading charts. Short interest in the company’s stock has risen 4.15% from the last report on Dec 30, 2020 to stand at a total of 4.39 million short shares sold with a short interest ratio of 1.96.