Stocks of Canadian Solar Inc. (NASDAQ:CSIQ) traded higher last session on Wall Street, down -2.79% to $37.35.
According to the data, Canadian Solar Inc. (NASDAQ:CSIQ) has 11 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $70.00 and a low of $16.43, we find $49.50. Given the previous closing price of $38.42, this indicates a potential upside of 28.84 percent. CSIQ stock price is now -3.01% away from the 50-day moving average and 0.01% away from the 200-day moving average. The market capitalization of the company currently stands at $2.44B.
A total of 3 analysts have issued a hold rating and 4 have given it a buy rating. Brokers who have rated the stock have averaged $49.88 as their price target over the next twelve months.
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 ARIOSE CAPITAL MANAGEMENT LTD during the first quarter worth $18,054,000. MEREWETHER INVESTMENT MANAGEMENT, LP invested $16,127,000 in shares of CSIQ during the first quarter. In the first quarter, BALYASNY ASSET MANAGEMENT L.P. acquired a new stake in Canadian Solar Inc. valued at approximately $5,790,000. GRANAHAN INVESTMENT MANAGEMENT, LLC acquired a new stake in CSIQ for approximately $5,086,000. ACADIAN ASSET MANAGEMENT LLC purchased a new stake in CSIQ valued at around $3,536,000 in the second quarter. In total, there are 257 active investors with 58.70% ownership of the company’s stock.
Tuesday’s opening bell rang with an opening price of $38.50 for Canadian Solar Inc. (NASDAQ: CSIQ). During the past 12 months, Canadian Solar Inc. has had a low of $26.86 and a high of $47.69. As of last week, the company has a debt-to-equity ratio of 2.18, a current ratio of 1.00, and a quick ratio of 0.80. According to the stock market information, the enterprise value for the company is $6.12B, which is based on a 8.33 price-to-earnings ratio, a 0.69 price-to-earnings-growth ratio, and a beta of 1.38. The fifty day moving average price for CSIQ is $38.50 and a two-hundred day moving average price translates $37.34 for the stock.
The latest earnings results from Canadian Solar Inc. (NASDAQ: CSIQ) was released for Mar, 2023. According to the Solar Company, earnings per share came in at $1.19, beating analysts’ expectations of $0.61 by 0.58. This compares to $0.14 EPS in the same period last year. The net profit margin was 4.00% and return on equity was 16.60% for CSIQ. The company reported revenue of $1.7 billion for the quarter, compared to $1.25 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 36.06 percent. For the current quarter, analysts expect CSIQ to generate $2.48B 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, 2023, this segment had a fleet of solar power plants in operation with an aggregate capacity of approximately 574 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. Canadian Solar Inc. was incorporated in 2001 and is based in Guelph, Canada.
