In yesterday’s Wall Street session, Canadian Solar Inc. (NASDAQ:CSIQ) shares traded at $36.15, up 13.79% from the previous session.
As of this writing, 7 analysts cover Canadian Solar Inc. (NASDAQ:CSIQ). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $57.00 and a low of $33.00, we find $43.50. Given the previous closing price of $31.77, this indicates a potential upside of 36.92 percent. CSIQ stock price is now 7.04% away from the 50-day moving average and 5.67% away from the 200-day moving average. The market capitalization of the company currently stands at $2.04B.
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There are 4 analysts who have given it a hold rating, whereas 2 have given it a buy rating. Brokers who have rated the stock have averaged $44.17 as their price target over the next twelve months.
With the price target reduced from $43 to $38, Goldman Downgraded its rating from Neutral to Sell for Canadian Solar Inc. (NASDAQ: CSIQ). On November 23, 2021, Wells Fargo recently initiated its ‘Equal Weight’ rating on the stock quoting a target price of $44, while ‘Citigroup’ rates the stock as ‘Buy’.
A total of 31.00% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CSIQ stock. A new stake in Canadian Solar Inc. shares was purchased by RENAISSANCE TECHNOLOGIES LLC during the first quarter worth $13,524,000. TWO SIGMA INVESTMENTS, LP invested $12,263,000 in shares of CSIQ during the first quarter. In the first quarter, COVALIS CAPITAL LLP acquired a new stake in Canadian Solar Inc. valued at approximately $5,451,000. TUDOR INVESTMENT CORP ET AL acquired a new stake in CSIQ for approximately $3,704,000. CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. purchased a new stake in CSIQ valued at around $3,494,000 in the second quarter. In total, there are 257 active investors with 58.70% ownership of the company’s stock.
Friday morning saw Canadian Solar Inc. (NASDAQ: CSIQ) opened at $32.26. During the past 12 months, Canadian Solar Inc. has had a low of $22.15 and a high of $47.69. As of last week, the company has a debt-to-equity ratio of 2.21, a current ratio of 1.20, and a quick ratio of 0.80. The fifty day moving average price for CSIQ is $33.90 and a two-hundred day moving average price translates $34.21 for the stock.
The latest earnings results from Canadian Solar Inc. (NASDAQ: CSIQ) was released for Jun, 2022. According to the Solar Company, earnings per share came in at $1.07, beating analysts’ expectations of $0.53 by 0.54. This compares to $0.55 EPS in the same period last year. The net profit margin was 2.70% and return on equity was 10.50% for CSIQ. The company reported revenue of $1.93 billion for the quarter, compared to $1.23 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 57.18 percent. For the current quarter, analysts expect CSIQ to generate $2.07B in revenue.
Canadian Solar Inc.(CSIQ) Company Profile
Canadian Solar Inc., together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power and battery storage products in Asia, the Americas, Europe, and internationally. The company operates through two segments, Canadian Solar Inc. (CSI) Solar and Global Energy. The CSI Solar segment offers standard solar modules and battery storage solutions, as well as solar system kits that are a ready-to-install packages comprising inverters, racking systems, and other accessories; and engineering, procurement, and construction (EPC) services. The Global Energy segment engages in the development, construction, maintenance, and sale of solar and battery storage projects; operation of solar power plants; and sale of electricity. This segment also provides operation and maintenance (O&M) services, including monitoring, inspections, repair, and replacement of plant equipment; and site management and administrative support services for solar projects, as well as asset management services. As of January 31, 2021, this segment had a fleet of solar power plants in operation with an aggregate capacity of approximately 445 MWp. The company serves distributors, system integrators, project developers, and installers/EPC companies. It sells its products primarily under its Canadian Solar brand name; and on an OEM basis. The company was incorporated in 2001 and is headquartered in Guelph, Canada.
