Canadian Solar Inc. (CSIQ) Price Targets: What Do They Mean?

At the last check on Friday, Canadian Solar Inc.’s (NASDAQ:CSIQ) stock was up $0.63, moving up 1.69 percent to $37.95. The average number of shares traded per day over the past five days has been 952,579 shares. 3 times new highs have been achieved over the past 5 days, with a $1.50 gain in that time frame. In the last twenty days, the average volume was 943,285, while in the previous 50 days, it was 905,312.

Since last month, CSIQ stock rose 27.46%. Shares of the company fell to $26.86 on 07/15/22, the lowest level in the past month. A 52-week high of $43.14 was reached on 08/05/22 after having rallying from a 52-week low of $22.15. Since the beginning of this year, CSIQ’s stock price has risen by 19.27% or $7.10, and marked a new high 9 times. However, the stock has declined by -12.03% since its 52-week high.

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Valuation Metrics

Right now, Canadian Solar Inc. (CSIQ) has a P/E ratio of about 28.21. The stock’s beta is 1.42. Besides these, the trailing price-to-sales (P/S) ratio of 0.41, the price-to-book (PB) ratio of 1.31.

Financial Health

In the three months ended March 30, Canadian Solar Inc.’s quick ratio stood at 0.90, while its current ratio was 1.20, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending March 30 was 0.54, and the total debt-to-equity ratio was 2.16. On the profitability front, the trailing twelve-month gross margin is 16.50% percent. In the year ended March 30, operating margins totaled 3.00%. Based on annual data, CSIQ earned $909.31 million in gross profit and brought in $5.28 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 3.00%. Return on equity (ROE) for the past 12 months was 4.70%.

In Canadian Solar Inc.’s quarter-end financial report for March 30, it reported total debt of $523.63 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. CSIQ’s revenue rose 34.12% during the quarter, while net income inched up to $5.28 billion. While analysts expected Canadian Solar Inc. to report -$0.13 quarterly earnings, the actual figure was $0.14 per share, beating the consensus estimate by 207.70%. During the quarter, the company generated $15.52 million in EBITDA. The liabilities of Canadian Solar Inc. were 6.23 billion at the end of its most recent quarter ended March 30, and its total debt was $2.62 billion.

Technical Picture

This quick technical analysis looks at Canadian Solar Inc.’s (CSIQ) price momentum. With a historical volatility rate of 49.48%, the RSI 9-day stood at 73.37% on 04 August.

With respect to its five-day moving average, the current Canadian Solar Inc. price is up by +4.07% percent or $1.50. At present, CSIQ shares trade +16.41% above its 20-day simple moving average and +34.24% percent above its 100-day simple moving average. However, the stock is currently trading approximately +25.38% above its SMA50 and +2.79% above its SMA200.

Stochastic coefficient K was 86.83% and Stochastic coefficient D was 85.34%, while ATR was 2.03. Given the Stochastic reading of 87.46% for the 14-day period, the RSI (14) reading has been calculated as 67.98%. As of today, the MACD Oscillator reading stands at 1.37, while the 14-day reading stands at 2.79.

Analyst Ratings

Wells Fargo launched its rating on Canadian Solar Inc. (NASDAQ: CSIQ) to an Equal weight in a note to investors on November 23, 2021. Canadian Solar Inc. (CSIQ) has been rated Overweight by analysts. According to 0 brokerage firms, CSIQ is a sell, and 5 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Canadian Solar Inc. stock as buy, with 3 recommending it as overweight.

With a median target price of $38.00, the current consensus forecast for the stock is $35.00 – $55.00. Based on these forecasts, analysts predict Canadian Solar Inc. (CSIQ) will achieve an average price target of $43.00.


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