During the last session, Canadian Solar Inc (NASDAQ:CSIQ)’s traded shares were 2.4 million, with the beta value of the company hitting 1.26. At the end of the trading day, the stock’s price was $17.15, reflecting an intraday loss of -7.50% or -$1.39. The 52-week high for the CSIQ share is $45.29, that puts it down -164.08 from that peak though still a striking -3.91% loss since the share price plummeted to a 52-week low of $17.82. The company’s market capitalization is $1.11B, and the average intraday trading volume over the past 10 days was 1.22 million shares, and the average trade volume was 1.26 million shares over the past three months.
Canadian Solar Inc (NASDAQ:CSIQ) trade information
Canadian Solar Inc (CSIQ) registered a -7.50% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -7.50% in intraday trading to $17.15, hitting a weekly high. The stock’s 5-day price performance is -13.21%, and it has moved by -15.72% in 30 days. Based on these gigs, the overall price performance for the year is -56.53%. The short interest in Canadian Solar Inc (NASDAQ:CSIQ) is 6.92 million shares and it means that shorts have 6.25 day(s) to cover.
Canadian Solar Inc (CSIQ) estimates and forecasts
Statistics show that Canadian Solar Inc has underperformed its competitors in share price, compared to the industry in which it operates. Canadian Solar Inc (CSIQ) shares have gone down -21.62% during the last six months, with a year-to-date growth rate less than the industry average at -33.59% against 3.70. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -100.80% this quarter and then drop -68.20% in the quarter after that. In the rating firms’ projections, revenue will increase 13.70% compared to the previous financial year.
Revenue for the current quarter is expected to be $1.29 billion as predicted by 7 analyst(s). Meanwhile, a consensus of 7 analyst(s) estimates revenue growth to $2.09 billion by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $1.71 billion and $2.36 billion respectively. In this case, analysts expect current quarter sales to shrink by -24.60% and then drop by -11.80% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 0.83%. While earnings are projected to return -21.47% in 2024, the next five years will return 25.00% per annum.
CSIQ Dividends
Canadian Solar Inc is due to release its next quarterly earnings in May. 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 29.60% of total outstanding shares while institutional holders control 58.58%, with the float percentage being 83.21%. Blackrock Inc. is the largest shareholder of the company, while 261 institutions own stock in it. As of Jun 29, 2023, the company held over 4.94 million shares (or 7.65% of all shares), a total value of $191.04 million in shares.
The next largest institutional holding, with 2.52 million shares, is of Mackenzie Financial Corporation’s that is approximately 3.91% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $97.48 million.
Also, the Mutual Funds coming in first place with the largest holdings of Canadian Solar Inc (CSIQ) shares are Invesco ETF TR II-Invesco Solar ETF and iShares Global Clean Energy ETF. Data provided on Aug 30, 2023 indicates that Invesco ETF TR II-Invesco Solar ETF owns about 1.42 million shares. This amounts to just over 2.21 percent of the company’s overall shares, with a $39.91 million market value. The same data shows that the other fund manager holds slightly less at 0.72 million, or about 1.12% of the stock, which is worth about $20.22 million.
