Stock Seesawing Amidst Rampant Activity: Canadian Solar Inc. (NASDAQ:CSIQ)

Paterniano Del Favero
Agosto 15, 2017

The current price is staying above the SMA lines which signify strength and is generally healthy/positive and may provide the momentum for driving the share price higher. Analysts giving the company a rating of 3 would be indicating a Hold recommendation. Vetr raised shares of Canadian Solar from a "buy" rating to a "strong-buy" rating and set a $19.06 target price for the company in a research note on Thursday. Canadian Solar now has a consensus rating of "Buy" and a consensus price target of $17.19.

Covering sell-side analysts have recently weighed in on shares of Canadian Solar Inc. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. (NASDAQ:CSIQ). At the time of writing, the First Call consensus price target for the company is $15.59.

Canadian Solar (CSIQ) opened at 17.20 on Thursday.

For the current quarter ending in October, Canadian Solar said it expects revenue in the range of $805 million to $825 million. The firm has a market cap of $962.32 million, a P/E ratio of 33.08 and a beta of 3.09. Current price places the company's stock 27.67% away from its 200-day simple moving average, 12.22%, away from the 50-day average and also 2.15% away from 20-day average.

Canadian Solar also confirmed that its in-house wafer manufacturing capacity reached 2GW in the second quarter and would reach 3GW in the third quarter of 2017 and 4GW by year-end. Traders acquired 16,455 call options on the stock.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings data on Tuesday, June 6th. The company had revenue of $692.37 million during the quarter, compared to the consensus estimate of $631.05 million.

By the end of Q2, Canadian Solar's portfolio of operational solar plants reached 1.26 GW with a total resale value of $1.8 billion. The business's quarterly revenue was down 6.2% compared to the same quarter previous year.

ILLEGAL ACTIVITY WARNING: This article was first posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this report on another site, it was copied illegally and reposted in violation of United States and worldwide trademark & copyright law. The original version of this news story can be viewed at https://www.baseball-news-blog.com/2017/08/14/bidaskclub-downgrades-canadian-solar-inc-csiq-to-hold-updated-updated.html. Hedge funds and other institutional investors own 34.97% of the company's stock. Fox Run Management L.L.C. acquired a new stake in Canadian Solar during the second quarter valued at approximately $476,000. Legal & General Group Plc raised its stake in Canadian Solar by 111.1% in the second quarter. The company's stock had a trading volume of 3,753,773 shares.

Canadian Solar Inc (NASDAQ:CSIQ) has grabbed attention from the analysts, when it saw a value increase of 3.93% or 0.65 points in the last trading session to close at $17.2. Finally, SG Americas Securities LLC increased its stake in shares of Canadian Solar by 194.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 43,599 shares of the solar energy provider's stock worth $535,000 after buying an additional 30,523 shares during the last quarter. DnB NOR Asset Management (Asia) is the second biggest holder with 4 million shares now valued at 61.23 million whilst QUENTEC ASSET MANAGEMENT LLC has 2 million shares valued at 27.96 million. Legal & General Group Plc now owns 7,789 shares of the solar energy provider's stock worth $124,000 after buying an additional 4,100 shares in the last quarter.

We continue to make progress with respect to the monetization of our operating solar power plants in the U.S., Japan, Brazil, China and the U.K. We have entered into exclusive discussions with the victor of the binding bids submitted for 703 MWp of our U.S. solar power plant assets and expect to finalize the sale over the coming months. The Company is a provider of solar power products, services and system solutions with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia.

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