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The Future Belongs To Canadian Solar Inc. (NASDAQ: CSIQ) For Risk-Tolerant Investors

During the recent session, Canadian Solar Inc. (NASDAQ:CSIQ)’s traded shares were 0.48 million, with the beta value of the company hitting 1.42. At the last check today, the stock’s price was $39.58, reflecting an intraday gain of 6.06% or $2.26. The 52-week high for the CSIQ share is $43.14, that puts it down -8.99 from that peak though still a striking 44.04% gain since the share price plummeted to a 52-week low of $22.15. The company’s market capitalization is $2.21B, and the average intraday trading volume over the past 10 days was 1.07 million shares, and the average trade volume was 923.92K shares over the past three months.

Canadian Solar Inc. (CSIQ) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.40. CSIQ has a Sell rating from 0 analyst(s) out of 8 analysts who have looked at this stock. 5 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 3 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.53.

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Canadian Solar Inc. (NASDAQ:CSIQ) trade information

Canadian Solar Inc. (CSIQ) registered a 6.06% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 6.06% in intraday trading to $39.58 this Thursday, 08/04/22, hitting a weekly high. The stock’s 5-day price performance is 3.67%, and it has moved by 27.46% in 30 days. Based on these gigs, the overall price performance for the year is -9.88%. The short interest in Canadian Solar Inc. (NASDAQ:CSIQ) is 3.81 million shares and it means that shorts have 4.61 day(s) to cover.

The consensus price target of analysts on Wall Street is $43.00, which implies an increase of 7.95% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $35.00 and $55.00 respectively. As a result, CSIQ is trading at a discount of -38.96% off the target high and 11.57% off the low.

Canadian Solar Inc. (CSIQ) estimates and forecasts

Statistics show that Canadian Solar Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Canadian Solar Inc. (CSIQ) shares have gone up 40.62% during the last six months, with a year-to-date growth rate more than the industry average at 170.80% against 23.30. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 194.40% this quarter and then jump 38.10% in the quarter after that. In the rating firms’ projections, revenue will increase 37.40% compared to the previous financial year.

Revenue for the current quarter is expected to be $2.23 billion as predicted by 7 analyst(s). Meanwhile, a consensus of 7 analyst(s) estimates revenue growth to $1.95 billion by the end of Sep 2022.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 5.40%. While earnings are projected to return -38.60% in 2022, the next five years will return 12.00% per annum.

CSIQ Dividends

Canadian Solar Inc. is due to release its next quarterly earnings on August 18. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

Canadian Solar Inc. insiders own 21.39% of total outstanding shares while institutional holders control 56.18%, with the float percentage being 71.47%. Grantham Mayo Van Otterloo & Company is the largest shareholder of the company, while 261 institutions own stock in it. As of Mar 30, 2022, the company held over 4.72 million shares (or 7.87% of all shares), a total value of $185.33 million in shares.

The next largest institutional holding, with 4.26 million shares, is of Blackrock Inc.’s that is approximately 7.10% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $167.1 million.

Also, the Mutual Funds coming in first place with the largest holdings of Canadian Solar Inc. (CSIQ) shares are GMO Resources Fund and Invesco ETF TR II-Invesco Solar ETF. Data provided on May 30, 2022 indicates that GMO Resources Fund owns about 1.64 million shares. This amounts to just over 2.74 percent of the company’s overall shares, with a $64.44 million market value. The same data shows that the other fund manager holds slightly less at 1.57 million, or about 2.62% of the stock, which is worth about $61.77 million.

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