An in-depth look at the Canadian Solar Inc. (CSIQ) stock – Marketing Sentinel

An in-depth look at the Canadian Solar Inc. (CSIQ) stock

Canadian Solar Inc. (NASDAQ:CSIQ) has a beta value of 1.41 and has seen 1,144,304 shares traded in the recent trading session. The company, currently valued at $2.33 Billion, closed the recent trade at $38.93 per share which meant it lost -$2.4 on the day or -5.8% during that session. The CSIQ stock price is -73.11% off its 52-week high price of $67.39 and 59.34% above the 52-week low of $15.83. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.57 Million shares traded. The 3-month trading volume is 2.28 Million shares.

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The consensus among analysts is that Canadian Solar Inc. (CSIQ) is an Overweight stock at the moment, with a recommendation rating of 2.1. None of the analysts rate the stock as a Sell, while none rate it as Overweight. 3 out of 7 have rated it as a Hold, with 4 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $0.41.

Canadian Solar Inc. (NASDAQ:CSIQ) trade information

Despite being -5.8% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Wednesday, Apr 28 when the CSIQ stock price touched $45.00- or saw a rise of 13.69%. Year-to-date, Canadian Solar Inc. shares have moved -24.2%, while the 5-day performance has seen it change -14.77%. Over the past 30 days, the shares of Canadian Solar Inc. (NASDAQ:CSIQ) have changed -19.93%. Short interest in the company has seen 7.3 Million shares shorted with days to cover at 3.2.

Wall Street analysts have a consensus price target for the stock at $51.71, which means that the shares’ value could jump 32.83% from the levels at last check today. The projected low price target is $46 while the price target rests at a high of $63. In that case, then, we find that the latest price level in today’s session is +61.83% off the targeted high while a plunge would see the stock lose 18.16% from the levels at last check today.

Canadian Solar Inc. (CSIQ) estimates and forecasts

Figures show that Canadian Solar Inc. shares have underperformed across the wider relevant industry. The company’s shares have gained +9.69% over the past 6 months, with this year growth rate of 5.46%, compared to 20.6% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are -77.7% and -73.5% for the next quarter. Revenue growth from the last financial year stood is estimated to be +62.3%.

6 analysts offering their estimates for the company have set an average revenue estimate of $1.05 Billion for the current quarter. 6 have an estimated revenue figure of $1.37 Billion for the next quarter concluding in June 01, 2021. Year-ago sales stood $825.63 Million for this quarter, and analysts expect sales will grow by 27.7% for the current quarter.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -4.1% over the past 5 years. Earnings growth for 2021 is a modest -16.2% while over the next 5 years, the company’s earnings are expected to increase by 12%.


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Canadian Solar Inc. (NASDAQ:CSIQ)’s Major holders

Insiders own 23.35% of the company shares, while shares held by institutions stand at 48.25% with a share float percentage of 62.95%. Investors are also buoyed by the number of investors in a company, with Canadian Solar Inc. having a total of 290 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 6.82 Million shares worth more than $349.53 Million. As of December 30, 2020, Blackrock Inc. held 11.4% of shares outstanding.

The other major institutional holder is Invesco Ltd., with the holding of over 3.47 Million shares as of December 30, 2020. The firm’s total holdings are worth over $177.84 Million and represent 5.8% of shares outstanding.

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Also the top two Mutual Funds that are holding company’s shares are iShares Global Clean Energy ETF and Invesco ETF TR II-Invesco Solar ETF. As of March 30, 2021, the former fund manager holds about 4.88% shares in the company for having 2921451 shares of worth $144.99 Million while later fund manager owns 1.85 Million shares of worth $91.71 Million as of March 30, 2021, which makes it owner of about 3.09% of company’s outstanding stock.

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