Home Analyst Ratings Canadian Solar Stock Gets a Downgrade from Goldman Sachs. It's Now...

Canadian Solar [CSIQ] Stock Gets a Downgrade from Goldman Sachs. It’s Now Neutral

Goldman Sachs took its Canadian Solar [CSIQ] rating to the equivalent of Neutral from Buy, and the ‎price target to $48, in a research note dated 2021-01-05. Meanwhile, Cascend Securities had raised its ‎rating on CSIQ to “Buy” from the earlier “Hold”, in a research note produced for clients February 20, ‎‎2019. In addition, there was no change from Cascend Securities on February 20, 2019. The rater ‎maintained CSIQ to “a Buy” but assigned new target price of $27.

Get the ‎hottest stocks to trade every day before the market opens 100% free. Click here ‎now. 

Is Canadian Solar Inc. [NASDAQ:CSIQ] a Good Buy Right ‎Now?

It should be noted that CSIQ technical indicators for short, intermediate as well as long ‎term progress have placed an overall average of 100% as Buy. The average signal changed from 100% ‎Buy in the last week and compares with 100% Buy in the past month. Data from Canadian Solar Inc.’s ‎Trend Spotter indicated that the signals were Strengthening. The stock current average is 2.28 million ‎shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, ‎the average trading volume was 2.38 million shares while the medium term average advocated for ‎‎100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at ‎‎2.47 million shares.


The 2021 Backdoor Crypto Portfolio (free)

Even if you’re not actively in crypto, you deserve to know what’s actually going on...

Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.

Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free.

Sponsored


CSIQ Price Performance

On Wall Street, Canadian Solar Inc. ‎‎[NASDAQ:CSIQ] finished Monday’s session up 2.73% at $52.64. The stock went up to $54.14 at the ‎same session while its lowest single day price was $51.83. In the last five days, it saw a fall of about -‎‎0.13%, Canadian Solar Inc. shares gained by almost 2.73% since the beginning of the year. However, ‎the share price has dropped to as low as -6.70% below its one year high. On 01/04/21, the company ‎shares recorded $54.14, the highest single-day price it has got to in the last 52-weeks and a 52-week ‎low was seen on 01/04/21, the same year at $51.83. The company’s shares have inclined by 141.47% in ‎the past year. The 50-day SMA achieved is $41.77 while the 200-day SMA is $28.14. Volume gained to ‎‎1.79 million from 1.41 million in the previous session.

Canadian Solar Inc. [CSIQ] Valuation ‎Measures

Notably, Canadian Solar Inc. [CSIQ] stock can be classified as a good candidate in the ‎listing of underestimated low-priced Solar companies to purchase soonest possible with the prevailing ‎‎12-month PE ratio of 15.14. The measure means the stock is exchanging at a discount as compared to ‎the 32.48x trailing earnings of the industry. It can be helpful for investors to consider historical price-‎sales ratio, more specifically, a 0.92 PS value ratio is reported for the last one year of reported ‎earnings. That is lower than the industry average of 2.63 which means CSIQ serve an attractive ‎investment opportunity compared to its competitors.

CSIQ Stock Support And Resistance ‎Levels

On the 24-hour scale, the immediate backing is perceived around 51.60 level, and in case ‎of violation of this particular level, it will cause more drop to 50.56 level. On the upper level, 55.18 is still ‎the key resistance. The stock may increase to the subsequent resistance at 53.91. The Relative ‎Strength Index (RSI) pinned on the 14-day chart is 68.73, implying a neutral technical stance while the ‎MACD stands at 3.50, meaning price will increase in the next trading period. Percent R indicator moved ‎to 20.21%, implying bullish price movement. Stochastic %K at 75.27% suggest selling the ‎stock.

What is the short interest in Canadian Solar Inc.?

Short interest in the Canadian Solar ‎Inc. stock has surged, increasing by 50000.0 shares to total 5.15 million shares on Dec 14, 2020. The ‎interest had seen shares on Nov 12, 2020 stand at 5.2 million, data from Yahoo Finance shows. The ‎decrease of -0.97% suggests the stock saw some decreased bullish sentiment. The stock’s days to ‎cover (short ratio) moved to while the shorted shares account for just 11.43% of the overall float for ‎the stock.

Canadian Solar Inc.’s Biggest Shareholders: Who Owns Canadian Solar Inc. ‎‎[CSIQ]?

Filings by Invesco Capital Management LLC showed that the firm now holds a total of ‎‎2,285,761 shares or roughly 3.85% of the outstanding CSIQ shares. This means their shares have ‎increased by 257,235 from the 2,285,761 the investor reportedly held in its prior 13-F filing. With the ‎conclusion of the purchase, BlackRock Advisors updated stake is worth $66,712,442. Details in the ‎latest 13F filings reveal that The Vanguard Group, Inc. disposed off their -3.08% stake valued at ‎‎$63,279,797 while Morgan Stanley & Co. LLC added theirs at $62,127,244. During the last quarter, The ‎Vanguard Group, Inc. liquidated -47,065 of its shares in Canadian Solar Inc. while Morgan Stanley & Co. ‎LLC bought 751,758 shares. The Norges Bank Investment Management’s holdings currently number ‎‎1,194,822 shares at $62895430.08. According to the firm’s last 13F report, BlackRock Fund Advisors ‎shares in the company at filing stood at 1,151,796 shares, roughly $49,250,797.

CSIQ Earnings ‎Forecast For The Current Quarter

Canadian Solar Inc. [CSIQ] is expected to report weak earnings ‎results for the quarter ending on Dec 2020. Consensus estimates give the company expected ‎revenues of $997.88M and an earnings per share of -$0.58 for Dec 2020. Looking further ahead, the ‎company is expected to report revenue of $975.16M at an EPS of -$0.51 for Mar 2021. The estimates ‎represent upside of 43.60% and 19.63% in the company’s revenue and earnings per share, ‎respectively, on a year-on-year basis.

Get the hottest stocks to trade every ‎day before the market opens 100% free. Click here now. 

CSIQ Earnings ‎Estimates For The Current Year

For the financial year, Canadian Solar Inc. [NASDAQ:CSIQ] is ‎expected to bring in revenue of $3.43B. The returns are nearly $230.0 million higher than the ‎company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it ‎at 1.62, lower than that of FY19 by -$1.21. Estimates put this year’s earnings growth at -42.80%, 19.80% ‎for the next, and at an annual 20.00% over the next 5-year period. As for sales, forecasts are for an ‎increase of 7.30% in the current fiscal year and a further 43.60% over the following year.‎

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

What Has Been Raising The Soleno (SLNO) Stock Up Before Market Open?

In recent premarket trading, Soleno Therapeutics Inc. (SLNO) has soared 3.77% at $1.10 per share. The Soleno stock closed at $1.06 yesterday, down -6.19%. Get...

Stealth BioTherapeutics Corp (MITO) Stock Going Down in PreMarket, Here’s What You Should Know

Stealth BioTherapeutics Corp (MITO) stock prices were up by a colossal 35% as of the market closing on May 6th, 2021, bringing the price...

Why Ocugen, Inc. (OCGN) stock is popping high today?

Shares of Ocugen, Inc. (OCGN) stock were popping high today on May 7, 2021, ahead of today’s earnings report.OCGN stock price saw a surge...

What Is Driving The Powerbridge (PBTS) Stock Higher In Premarket session?

At the last check, Powerbridge Technologies Co. Ltd. (NASDAQ: PBTS) shares were rising 10.71% to trade at $1.55 in premarket trades. The Powerbridge stock...

Beyond Meat, Inc. (BYND) Stock Trending Down After Management’s Uncertainty Over Fiscal Year Guidelines

Beyond Meat, Inc. (BYND) stock prices were down by 2.08% as of the market closing on May 6th, 2021, bringing the price per share...

Regional Health Properties, Inc. (RHE) Stock Skyrockets Following Trading of Exponential Volume of Shares

Regional Health Properties, Inc. (RHE) stock prices soared by 31.4% during early market hours on May 7th 2021, bringing the price per share up...

Orphazyme A/S (ORPH) Stock Plummeting After Failure of ORAIALS-01 Trial Announced

Orphazyme A/S (ORPH) stock prices plummeted by 27.77%  after the market opened on May 7th, 2021, bringing the price per share tumbling down to...

Avalon Holdings Corporation (NYSE:AWX) stock surged in the current trading session; here’s why

At last check, in the current trading session, AWX stock surged by 22.58% to $5.08. AWX stock previously closed the session at $4.14. The...

Related News

Ocugen Inc. (NASDAQ:OCGN) stock plunged in the premarket trading session; here’s why

At last check Ocugen Inc. (OCGN) stock had plunged by-11.92% to $9.61 in premarket trading session. OCGN stock previously closed at $10.91 losing -12.79%....

KeyBanc reiterates Magna International [MGA] rating to Overweight and sets new price target at $86

KeyBanc maintained its Magna International rating to the equivalent of Overweight but changed the price target to $86.0 from $72, in a research...

Jefferies upgrades Medifast [MED] to Buy rating with a $265 price target

Jefferies took its Medifast rating to the equivalent of Buy from Hold, and the price target to $265.0 from $205, in a research...

American Eagle Outfitters [AEO] Upgraded to Outperform at RBC Capital

RBC Capital took its American Eagle Outfitters rating to the equivalent of Outperform from Sector Perform, and the price target to $30.0 from...

KeyBanc reiterates Nike [NKE] rating to Overweight and sets new price target at $180

KeyBanc maintained its Nike rating to the equivalent of Overweight but changed the price target to $180.0 from $174, in a research note...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get Best Morning Financial Newsletter... 100% Free

Best stocks ideas

Analysts’ Upgrades & Downgrades

Insider Watchlist

Important Earnings

We do not sell or share your information with anyone.

Get The Best Stocks To Trade Every Day!...100% Free

We do not sell or share your information with anyone.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.