Canadian Solar Inc (CSIQ) Analysis & Forecast for 2024

Canadian Solar Inc (NASDAQ: CSIQ) is -36.10% lower on its value in year-to-date trading and has touched a low of $11.41 and a high of $26.85 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 $16.17 in the last trading session, with the day’s gains setting it 0.59%.

Currently trading at $16.76, the stock is 22.83% and 17.77% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.05 million and changing 3.65% at the moment leaves the stock -7.41% off its SMA200. CSIQ registered -32.39% loss for a year compared to 6-month loss of -14.97%. The firm has a 50-day simple moving average (SMA 50) of $14.2502 and a 200-day simple moving average (SMA200) of $18.07705.

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The stock witnessed a 33.97% gain in the last 1 month and extending the period to 3 months gives it a 19.63%, and is 16.15% 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 5.17% over the week and 5.48% over the month.

Canadian Solar Inc (CSIQ) has around 22234 employees, a market worth around $1.11B and $6.51B in sales. Current P/E ratio is 30.96 and Fwd P/E is 5.59. Profit margin for the company is 0.56%. Distance from 52-week low is 46.89% and -37.58% from its 52-week high. The company has generated returns on investments over the last 12 months (0.77%).

with sales reaching $1.72B over the same period.The EPS is expected to shrink by -77.62% this year, but quarterly earnings will post -10.00% year-over-year. Quarterly sales are estimated to shrink -15.60% in year-over-year returns.

Canadian Solar Inc (CSIQ) Top Institutional Holders

The shares outstanding are 66.16M, and float is at 47.29M with Short Float at 17.30%.

The top institutional shareholder in the company is BLACKROCK INC. with over 5.17 million shares valued at $76.21 million. The investor’s holdings represent 7.8086% of the CSIQ Shares outstanding. As of 2024-06-30, the second largest holder is MACKENZIE FINANCIAL CORP with 5.12 million shares valued at $75.46 million to account for 7.7317 of the shares outstanding. The other top investors are VANGUARD GROUP INC which holds 1.99 million shares representing 3.0086% and valued at over $29.36 million, while INVESCO LTD. holds 2.7991 of the shares totaling 1.85 million with a market value of $27.32 million.