Canadian Solar Inc (NASDAQ: CSIQ) has seen a decline in its stock price by -0.38 in relation to its previous close of 15.75. However, the company has experienced a -9.67% decline in its stock price over the last five trading sessions. InvestorPlace reported 2024-04-15 that Due to its obvious nature, one of the most commonly repeated pieces of advice regarding stock investment is to buy undervalued stocks when they trade low and sell overvalued stocks when they trade high. Achieving this outcome consistently would be ideal.
Is It Worth Investing in Canadian Solar Inc (NASDAQ: CSIQ) Right Now?
The price-to-earnings ratio for Canadian Solar Inc (NASDAQ: CSIQ) is above average at 4.08x. The 36-month beta value for CSIQ is also noteworthy at 1.29. There are mixed opinions on the stock, with 3 analysts rating it as a “buy,” 1 rating it as “overweight,” 5 rating it as “hold,” and 1 rating it as “sell.”
The public float for CSIQ is 50.88M, and at present, short sellers hold a 13.44% of that float. The average trading volume of CSIQ on April 16, 2024 was 1.41M shares.
CSIQ’s Market Performance
CSIQ stock saw a decrease of -9.67% in the past week, with a monthly decline of -19.04% and a quarterly a decrease of -29.77%. The volatility ratio for the week is 6.23%, and the volatility levels for the last 30 days are 5.16% for Canadian Solar Inc (CSIQ). The simple moving average for the last 20 days is -14.91% for CSIQ stock, with a simple moving average of -37.12% for the last 200 days.
Analysts’ Opinion of CSIQ
Many brokerage firms have already submitted their reports for CSIQ stocks, with Daiwa Securities repeating the rating for CSIQ by listing it as a “Neutral.” The predicted price for CSIQ in the upcoming period, according to Daiwa Securities is $21 based on the research report published on March 11, 2024 of the current year 2024.
Goldman, on the other hand, stated in their research note that they expect to see CSIQ reach a price target of $25. The rating they have provided for CSIQ stocks is “Neutral” according to the report published on December 18th, 2023.
JP Morgan gave a rating of “Underweight” to CSIQ, setting the target price at $22 in the report published on November 15th of the previous year.
CSIQ Trading at -22.56% from the 50-Day Moving Average
After a stumble in the market that brought CSIQ to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -65.36% of loss for the given period.
Volatility was left at 5.16%, however, over the last 30 days, the volatility rate increased by 6.23%, as shares sank -19.29% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -31.54% lower at present.
During the last 5 trading sessions, CSIQ fell by -9.67%, which changed the moving average for the period of 200-days by -57.98% in comparison to the 20-day moving average, which settled at $18.25. In addition, Canadian Solar Inc saw -40.18% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for CSIQ
Current profitability levels for the company are sitting at:
- 0.06 for the present operating margin
- 0.17 for the gross margin
The net margin for Canadian Solar Inc stands at 0.04. The total capital return value is set at 0.07. Equity return is now at value 12.18, with 2.62 for asset returns.
Based on Canadian Solar Inc (CSIQ), the company’s capital structure generated 0.63 points at debt to capital in total, while cash flow to debt ratio is standing at 0.18. The debt to equity ratio resting at 1.7. The interest coverage ratio of the stock is 3.79.
Currently, EBITDA for the company is 294.14 million with net debt to EBITDA at 3.22. When we switch over and look at the enterprise to sales, we see a ratio of 0.34. The receivables turnover for the company is 6.29for trailing twelve months and the total asset turnover is 0.64. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.99.
Conclusion
In summary, Canadian Solar Inc (CSIQ) has had a bad performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
