The company is trading up by 4.52% since yesterday’s close of $15.73. It is currently trading at $16.44 which is marginally over $13.44, the stock’s 50 day moving average and marginally over the 200 day moving average of $13.07. The 50 day moving average went up by +22.58% and the 200 day average was up $3.41.
Short traders are more bullish on shares of Canadian Solar Inc. recently looking at the motion in short interest. The firm had a fall in short interest between June 15, 2017 and May 31, 2017 of -3.34%. Short shares fell from 7,689,794 to 7,433,012 over that timeframe. The days to cover increased to 6.2 and the percentage of shorted shares was 0.13% on May 31.
Canadian Solar Inc., launched on June 1, 2006, is a solar power company. 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. The Business’s segments include module segment, energy development segment and electricity generation segment. The Company designs, develops and manufactures solar wafers, solar cells and solar power products. The module segment primarily involves the design, development, manufacturing and sale of a range of solar power products, including standard solar modules and specialty solar products, and solar system kits. Its energy development segment consists of solar power project development, engineering, procurement and construction (EPC) services, and operation and maintenance (O&M) services. Its electricity generation segment consists of holding solar power projects for the purpose of generating income from the sale of electricity. Its products include a range of solar modules for use in residential, commercial and industrial solar power generation systems. The Company sells its products primarily under Canadian Solar brand name..
These firms have also modified their investment in CSIQ. Bank Of Montreal /can/ trimmed its investment by selling 4,550 shares a decrease of 94.8% in the quarter. Bank Of Montreal /can/ now holds 250 shares with a value of $4,000. The total value of its holdings decreased 93.2%. As of the end of the quarter Guinness Atkinson Asset Management Inc had sold 2,700 shares trimming its position 10.1%. The value of the investment in CSIQ increased from $329,000 to $384,000 increasing 16.7% for the reporting period.
Dnb Asset Management As divested its stake by shedding 965,351 shares a decrease of 20.1% from 03/31/2017 to 06/30/2017. Dnb Asset Management As currently owns 3,846,373 shares valued at $61,234,000. The value of the position overall is up by 3.7%. As of quarter end Fny Partners Fund Lp had disposed of a total of 1,611 shares trimming its stake by 80.6%. The value of the investment in Canadian Solar Inc. went from $24,000 to $4,000 a change of 83.3% quarter to quarter.
On November 23 Barclays made no change to the stock rating of “Equal-Weight” and moved down the price target from $14.00 to $12.00. On November 22 the company was rated “Neutral” by FBR Capital down from the previous “Outperform” rating.
On November 22, 2016 the stock rating was set at “Neutral” in a report from Roth Capital which is down from the previous “” rating. On September 8 analysts at JMP Securities added the stock to its research portfolio giving it an initial rating of “Market Perform”.
Equity analyst Barclays lowered the price target and downgraded the stock on August 24 changing the price target from $24.00 to $14.00 and altering the rating from “Overweight” to “Equal-weight”. On August 24 the company was downgraded from “Overweight” to “Equal-weight” and a price target of $14.00 was set in an announcement from Barclays.
The most current P/E ratio is 32.76 and the market value is 953.07M. As of the last earnings report the EPS was $0.50 and is projected to be $1.54 for the current year with 57,832,000 shares presently outstanding. Next quarter’s EPS is estimated at $0.57 with next year’s EPS projected to be $1.75.