Canadian Solar Inc (NASDAQ: CSIQ) has a price-to-earnings ratio that is above its average at 5.09x. The stock has a 36-month beta value of 1.29. Opinions on the stock are mixed, with 3 analysts rating it as a “buy,” 1 as “overweight,” 5 as “hold,” and 1 as “sell.”
The public float for CSIQ is 47.29M, and at present, short sellers hold a 13.29% of that float. On July 03, 2024, the average trading volume of CSIQ was 1.87M shares.
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CSIQ) stock’s latest price update
Canadian Solar Inc (NASDAQ: CSIQ)’s stock price has soared by 3.78 in relation to previous closing price of 14.01. Nevertheless, the company has seen a loss of -4.66% in its stock price over the last five trading days. investorplace.com reported 2024-07-01 that The top solar stocks could be in for quite a bright future as they continue to supply various power producers with the equipment to meet the growing demand for sustainable energy. Undoubtedly, the artificial intelligence (AI) revolution and the rise of electric vehicles (EVs) stand out as two notable tailwinds that could bring forth more demand for solar power.
CSIQ’s Market Performance
Canadian Solar Inc (CSIQ) has experienced a -4.66% fall in stock performance for the past week, with a -25.97% drop in the past month, and a -23.91% drop in the past quarter. The volatility ratio for the week is 4.77%, and the volatility levels for the past 30 days are at 4.89% for CSIQ.. The simple moving average for the past 20 days is -13.86% for CSIQ’s stock, with a -29.03% simple moving average for the past 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 -13.42% 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 -63.29% of loss for the given period.
Volatility was left at 4.89%, however, over the last 30 days, the volatility rate increased by 4.77%, as shares sank -26.82% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +0.90% upper at present.
During the last 5 trading sessions, CSIQ fell by -4.66%, which changed the moving average for the period of 200-days by -47.81% in comparison to the 20-day moving average, which settled at $16.61. In addition, Canadian Solar Inc saw -44.57% 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:
- 0.04 for the present operating margin
- 0.17 for the gross margin
The net margin for Canadian Solar Inc stands at 0.03. The total capital return value is set at 0.05. Equity return is now at value 8.86, with 1.83 for asset returns.
Based on Canadian Solar Inc (CSIQ), the company’s capital structure generated 0.67 points at debt to capital in total, while cash flow to debt ratio is standing at 0.07. The debt to equity ratio resting at 2.0. The interest coverage ratio of the stock is 2.51.
Currently, EBITDA for the company is 806.88 million with net debt to EBITDA at 4.65. When we switch over and look at the enterprise to sales, we see a ratio of 0.45. The receivables turnover for the company is 6.36for trailing twelve months and the total asset turnover is 0.59. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.98.
Conclusion
To sum up, Canadian Solar Inc (CSIQ) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing 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.
