Canadian Solar Inc. (NASDAQ:CSIQ) saw a downside of -12.91% to close Tuesday at $26.79 after subtracting -$3.97 on the day. The 5-day average trading volume is 2,050,180 shares of the company’s common stock. It has gained $32.32 in the past week and touched a new high 1 time within the past 5 days. An average of 1,221,015 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,270,740.
CSIQ’s 1-month performance is -28.96% or -$10.79 on its low of $26.66 reached on 08/22/23. The company’s shares have touched a 52-week low of $27.38 and high of $47.16, with the stock’s rally to the 52-week high happening on 05/30/23. YTD, CSIQ has lost -13.30% or -$4.11 and has reached a new high 8 times. However, the current price is down -43.19% from the 52-week high price.
Valuation Metrics
CSIQ stock has a beta of 1.40. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.22 while the price-to-book (PB) in the most recent quarter is 0.84.
Canadian Solar Inc.’s quick ratio for the period ended March 30 was 0.80, with the current ratio over the same period at 1.00. As well, the company’s long term debt to equity for the quarter ending March 30 was 0.53, while the total debt to equity was 2.18.. In terms of profitability, the gross margin trailing 12 months is 17.70%. The trailing 12-month EBITDA margin is 7.19% while for the period ending March 30, Canadian Solar Inc.’s operating margin was 6.10%. The firm’s gross profit as reported stood at $1.26 billion against revenue of $7.47 billion.
Earnings Surprise
For the quarterly period ending March 30 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 60.31% to $239.97 million, while revenue of $0.0 was 100.0% off the previous quarter. Analysts expected CSIQ to announce $0.61 per share in earnings in its latest quarter, but it posted $1.19, representing a 95.10% surprise. EBITDA for the quarter stood at more than $145.6 million. CSIQ stock balance sheet for the quarter ending March 30 shows that total liabilities totaled 7.4 billion, with total debt at $2.93 billion.
Let’s look briefly at Canadian Solar Inc. (CSIQ) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 August was 8.38% to suggest the stock is trending oversold, with historical volatility in this time period at 61.41%.
The stock’s 5-day moving average is $30.22, reflecting a -16.57% or -$5.32 change from its current price. CSIQ is currently trading -28.35% above its 20-day SMA, -31.48% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -28.88% and SMA200 by-18.40%.
Stochastic %K and %D was 5.10% and 4.02% and the average true range (ATR) pointed at 1.38. The RSI (14) points at 15.06%, while the 14-day stochastic is at 1.47% with the period’s ATR at 1.32. The stock’s 9-day MACD Oscillator is pointing at -2.05 and -3.08 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Canadian Solar Inc. (NASDAQ: CSIQ), UBS upgraded it to a Buy rating. They previously had a Neutral rating on the stock.
What is CSIQ’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $16.43 and a high of $70.00, with their median price target at $49.50. Looking at these predictions, the average price target given by analysts is for Canadian Solar Inc. (CSIQ) stock is $49.08.
