While Canadian Solar Inc has overperformed by 2.89%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CSIQ fell by -46.32%, with highs and lows ranging from $45.29 to $17.82, whereas the simple moving average fell by -27.79% in the last 200 days.
On March 11, 2024, Daiwa Securities started tracking Canadian Solar Inc (NASDAQ: CSIQ) recommending Neutral. A report published by Goldman on December 18, 2023, Upgraded its rating to ‘Neutral’ for CSIQ. JP Morgan also Downgraded CSIQ shares as ‘Underweight’, setting a target price of $22 on the company’s shares in a report dated November 15, 2023. Citigroup March 10, 2023d its ‘Buy’ rating to ‘Neutral’ for CSIQ, as published in its report on March 10, 2023. Goldman’s report from September 08, 2022 suggests a price prediction of $38 for CSIQ shares, giving the stock a ‘Sell’ rating. Wells Fargo also rated the stock as ‘Equal Weight’.
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Analysis of Canadian Solar Inc (CSIQ)
Further, the quarter-over-quarter decrease in sales is -13.67%, showing a negative trend in the upcoming months.
One of the most important indicators of Canadian Solar Inc’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of 12.18% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 0.76, 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.
For any stock, average volume can also provide valuable insight into volatility, and CSIQ is recording 1.18M average volume. On a monthly basis, the volatility of the stock is set at 4.56%, whereas on a weekly basis, it is put at 5.74%, with a loss of -1.58% over the past seven days. Furthermore, long-term investors anticipate a median target price of $25.90, showing growth from the present price of $19.25, 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?
The Solar market is dominated by Canadian Solar Inc (CSIQ) based in the Canada. 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 5.01, there is a growth in quarterly earnings of -101.89%.
Along with the fundamentals, it is also important to consider how many employees own shares of the company. 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 55.71% 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 55.71% at present.
