While Canadian Solar Inc has underperformed by -3.56%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CSIQ fell by -46.96%, with highs and lows ranging from $45.29 to $17.82, whereas the simple moving average fell by -26.07% in the last 200 days.
On December 18, 2023, Goldman Upgraded Canadian Solar Inc (NASDAQ: CSIQ) to Neutral. A report published by JP Morgan on November 15, 2023, Downgraded its rating to ‘Underweight’ for CSIQ. Citigroup March 10, 2023d the rating to Neutral on March 10, 2023, and set its price target from $45 to $44. Goldman September 08, 2022d its ‘Neutral’ rating to ‘Sell’ for CSIQ, as published in its report on September 08, 2022. Wells Fargo’s report from November 23, 2021 suggests a price prediction of $44 for CSIQ shares, giving the stock a ‘Equal Weight’ rating. Citigroup also rated the stock as ‘Buy’.
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Analysis of Canadian Solar Inc (CSIQ)
Further, the quarter-over-quarter decrease in sales is -4.46%, showing a negative trend in the upcoming months.
Canadian Solar Inc’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of 16.52% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 0.80, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
The average volume for any stock is also a very valuable indicator of volatility, and CSIQ has an average volume of 1.17M. On a monthly basis, the volatility of the stock is set at 4.10%, whereas on a weekly basis, it is put at 3.98%, with a loss of -6.72% over the past seven days. Furthermore, long-term investors anticipate a median target price of $30.88, showing growth from the present price of $20.83, which can serve as yet another indication of whether CSIQ is worth investing in or should be passed over.
How Do You Analyze Canadian Solar Inc Shares?
Solar giant Canadian Solar Inc (CSIQ) is based in the Canada and is one of the largest companies in the market. When comparing Canadian Solar Inc shares with other companies under Technology, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 4.19, there is a growth in quarterly earnings of -70.88%.
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 21.28%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 55.61% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
CSIQ shares are owned by institutional investors to the tune of 55.61% at present.
