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.


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for 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

Palatin Technologies Inc. (PTN) stock rises during pre-market trading. What has been happening lately?

Palatin Technologies Inc. (NASDAQ: PTN) stock declined by 1.16% the last close whereas the PTN stock price gains by 3.91% in the pre-market trading...

Smith Micro Develops Inc. (SMSI) stock soars during current market trading. Here’s to know why?

Smith Micro Develops Inc. (NASDAQ: SMSI) stock surged by 2.39% during the current market trading session. Smith Micro creates software that simplifies and improves...

Drive Shack Inc. (DS) stock soars during after-hour trading, followed by no recent update

Drive Shack Inc. (NASDAQ: DS) stock declined by 3.94% at last close while the DS stock-price surged by 7.38% in the after-hour session. Drive...

SPX Flow Inc. (FLOW) stock surged during current market. Here’s why the stock is sky-rocketing?

SPX Flow Inc. (NASDAQ: FLOW) stock gained by 24.24% in the current market trading session. SPX FLOW, based in Charlotte, works to make the...

Platinum Group Metal Ltd. (PLG) stock surges during after-market trading. Here’s to know what’s happening?

Platinum Group Metal Ltd. (NASDAQ: PLG) stock declined by 8.54% at last close whereas the PLG stock price gains by 7% in the after-market...

Why Socket Mobile Inc. (SCKT) stock price faced negativity in the pre-market?

Socket Mobile Inc. (SCKT) shares declined 10.18% in pre-hours to $7.50 per share. On Friday, SCKT's stock gained 43.97% to close Friday's morning session...

Meten Edtechx Ltd. (METX) stock declines during pre-market trading given no current news

Meten Edtechx Ltd. (METX) stock plunged by 29.42% at the last close while the METX stock price fell by 8.64% in the pre-market trading...

Aptorum Group Ltd. (APM) stock surged during pre-market trading. What has been happening lately?

Aptorum Group Ltd. (NASDAQ: APM) stock declined by 4% at last close whereas the APM-stock price gains by 6.44% in the pre-market trading session....

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

SPECIAL GIFT

WE HAVE A GIFT FOR YOU

Download Free eBook For

7 GROWTH STOCKS FOR 2021

100% free. stop anytime no spam