Canadian Solar Inc. (NASDAQ: CSIQ) is -16.30% lower on its value in year-to-date trading and has touched a low of $15.84 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 $44.01 in the last trading session, with the day’s loss setting it -1.12% off its average median price target of $49.00 for the next 12 months. It is also 31.92% off the consensus price target high of $63.00 offered by 7 analysts, but current levels are 6.76% higher than the price target low of $46.00 for the same period.
Currently trading at $42.89, the stock is -4.57% and -6.00% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.71 million and changing -2.54% at the moment leaves the stock 5.14% off its SMA200. CSIQ registered 130.84% gain for a year compared to 6-month gain of 12.84%. The firm has a 50-day simple moving average (SMA 50) of $46.62 and a 200-day simple moving average (SMA200) of $45.28.
The stock witnessed a -12.24% loss in the last 1 month and extending the period to 3 months gives it a -25.38%, and is -4.31% 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 3.31% over the week and 4.98% over the month.
Canadian Solar Inc. (CSIQ) has around 12774 employees, a market worth around $2.52B and $3.48B in sales. Current P/E ratio is 17.48 and Fwd P/E is 11.49. Profit margin for the company is 4.20%. Distance from 52-week low is 170.77% and -36.36% from its 52-week high. The company has generated returns on investments over the last 12 months (5.10%).
Canadian Solar Inc. (CSIQ) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Canadian Solar Inc. (CSIQ) is a “Overweight”. 7 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”. 4 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 08/19/2021 and quarterly earnings per share for the current quarter are estimated at $0.41 with sales reaching $1.05B over the same period.The EPS is expected to shrink by -16.20% this year, but quarterly earnings will post 62.30% year-over-year. Quarterly sales are estimated to grow 27.70% in year-over-year returns.
Canadian Solar Inc. (CSIQ) Top Institutional Holders
287 institutions hold shares in Canadian Solar Inc. (CSIQ), with 13.98M shares held by insiders accounting for 23.35% while institutional investors hold 68.86% of the company’s shares. The shares outstanding are 59.80M, and float is at 45.07M with Short Float at 16.20%. Institutions hold 52.78% of the Float.
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 11.40% 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 5.80% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 1.54 million shares representing 2.57% and valued at over $78.73 million, while Morgan Stanley holds 2.08% of the shares totaling 1.25 million with a market value of $63.85 million.
Canadian Solar Inc. (CSIQ): Who are the competitors?
The company’s main competitors (and peers) include SunPower Corporation (SPWR) that is trading 436.25% up over the past 12 months. First Solar Inc. (FSLR) is 91.64% up on the 1-year trading charts. Short interest in the company’s stock has fallen -22.48% from the last report on Apr 14, 2021 to stand at a total of 7.3 million short shares sold with a short interest ratio of 3.1.