Canadian Solar Inc. (NASDAQ:CSIQ):
Canadian Solar Wins ARENA Funding for 47MWp Solar Power Projects in Australia.
In the market the company is trading up since yesterday’s close of $12.67.
The stock is trading at $13.17 which is marginally higher than the 50 day moving average of $13.00 and marginally under the 200 day moving average of $15.96. The 50 day moving average moved up $0.17 and the 200 day average was down $-2.79.
Canadian Solar Inc.’s P/E ratio is 4.99 and the market cap of the company is 758.66M. As of the last earnings report the EPS was $2.64 and is expected to be $1.56 for the current year with 57,605,000 shares presently outstanding. Next quarter’s EPS is forecasted to be $0.37 and the next full year EPS is projected to be $2.00.
Traders are feeling more bullish on shares of the company of late as inferred by the motion in short interest. The company realized a fall in short interest of -0.01% as of the latest report on September 15, 2016. Short shares decreased 108,332 over that period. The days to cover increased to 4.1 and the percentage of shorted shares was 0.13% on September 15.
Wall Street analysts have released opinions on the company of late. On September 8 analysts at JMP Securities began coverage of CSIQ setting a rating of “Market Perform”. Barclays downgraded the stock and lowered the price target on August 24 changing the price objective from $24.00 to $14.00 and moving the rating from “Overweight” to “Equal-weight”.
On August 24 the stock rating was downgraded to “Equal-weight” from “Overweight” with a current price target of $14.00 by analysts at Barclays. On August 19, 2016 the stock rating was changed to a “Market Perform” in a report from Cowen & Company a cut from the previous “Outperform” rating.
Barclays started covering CSIQ giving it an initial rating of “Overweight” and projecting a price target of $24.00. On March 16, 2016 Northland Securities added the stock to its research portfolio with an initial rating of “Outperform” and price target of $36.00.