Canadian Solar Inc (NASDAQ:CSIQ) has a beta value of 1.30 and has seen 1.5 million shares traded in the last trading session. The company, currently valued at $830.69M, closed the last trade at $11.91 per share which meant it gained $0.61 on the day or 5.40% during that session. The CSIQ stock price is -125.44% off its 52-week high price of $26.85 and 8.4% above the 52-week low of $10.91. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.26 million shares traded. The 3-month trading volume is 2.24 million shares.
The consensus among analysts is that Canadian Solar Inc (CSIQ) is Buy stock at the moment, with a recommendation rating of 2.44. 2 analysts rate the stock as a Sell, while 0 rate it as Overweight. 0 out of 4 have rated it as a Hold, with 2 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -0.12.
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Canadian Solar Inc (NASDAQ:CSIQ) trade information
Sporting 5.40% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on recent trading when the CSIQ stock price touched $11.91 or saw a rise of 0.42%. Year-to-date, Canadian Solar Inc shares have moved -54.59%, while the 5-day performance has seen it change 8.37%. Over the past 30 days, the shares of Canadian Solar Inc (NASDAQ:CSIQ) have changed -2.46%. Short interest in the company has seen 9.96 million shares shorted with days to cover at 3.99.
Wall Street analysts have a consensus price target for the stock at $20, which means that the shares’ value could jump 40.45% from current levels. The projected low price target is $11.0 while the price target rests at a high of $27.0. In that case, then, we find that the current price level is -126.7% off the targeted high while a plunge would see the stock lose 7.64% from current levels.
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 lost -34.56% over the past 6 months, with this year growth rate of -96.90%, compared to -19.90% for the industry. Revenue growth from the last financial year stood is estimated to be -10.16%.
7 analysts offering their estimates for the company have set an average revenue estimate of 1.71B for the current quarter. 7 have an estimated revenue figure of 2.14B for the next ending quarter. Year-ago sales stood 1.85B and 1.7B respectively for this quarter and the next, and analysts expect sales will shrink by -7.27% for the current quarter and -10.16% for the next.
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 0.83% over the past 5 years. Earnings growth for 2024 is a modest -81.14% while over the next 5 years, the company’s earnings are expected to increase by 17.50%.
CSIQ Dividends
Canadian Solar Inc is expected to release its next earnings report in December this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Canadian Solar Inc (NASDAQ:CSIQ)’s Major holders
The top two institutional holders are BLACKROCK INC. with over 5.17 million shares worth more than $76.21 million. As of 2024-06-30, BLACKROCK INC. held 7.8086% of shares outstanding.
The other major institutional holder is MACKENZIE FINANCIAL CORP, with the holding of over 5.12 million shares as of 2024-06-30. The firm’s total holdings are worth over $75.46 million and represent 7.7317% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Invesco ETF TR II-Invesco Solar ETF and Vanguard International Stock Index-Total Intl Stock Indx . As of Sep 30, 2024 , the former fund manager holds about 2.18% shares in the company for having 1.44 shares of worth $17.15 million while later fund manager owns 702.61 shares of worth $8.37 million as of Jul 31, 2024 , which makes it owner of about 1.06% of company’s outstanding stock.
