Market Runner: Could Canadian Solar Inc. Crash Even More? The Stock Just Made 1 Year Low

Market Runner: Could Canadian Solar Inc. Crash Even More? The Stock Just Made 1 Year Low

The stock of Canadian Solar Inc. (NASDAQ:CSIQ) hit a new 52-week low and has $11.27 target or 5.00% below today’s $11.86 share price. The 6 months bearish chart indicates high risk for the $710.57 million company. The 1-year low was reported on Nov, 9 by Barchart.com. If the $11.27 price target is reached, the company will be worth $35.53M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 4.46M shares traded hands or 184.08% up from the average. Canadian Solar Inc. (NASDAQ:CSIQ) has declined 23.15% since April 7, 2016 and is downtrending. It has underperformed by 27.93% the S&P500.

Canadian Solar Inc. (NASDAQ:CSIQ) Ratings Coverage

Out of 13 analysts covering Canadian Solar Inc. (NASDAQ:CSIQ), 10 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 77% are positive. Canadian Solar Inc. has been the topic of 20 analyst reports since August 19, 2015 according to StockzIntelligence Inc. On Wednesday, August 19 the stock rating was maintained by TH Capital with “Buy”. The firm has “Outperform” rating given on Friday, August 19 by FBR Capital. The company was downgraded on Wednesday, November 25 by Standpoint Research. The stock of Canadian Solar Inc. (NASDAQ:CSIQ) has “Buy” rating given on Friday, August 21 by Standpoint Research. Morgan Stanley initiated Canadian Solar Inc. (NASDAQ:CSIQ) on Tuesday, November 10 with “Overweight” rating. The rating was initiated by Stifel Nicolaus with “Buy” on Thursday, September 24. Standpoint Research upgraded Canadian Solar Inc. (NASDAQ:CSIQ) on Thursday, January 21 to “Buy” rating. On Wednesday, January 27 the stock rating was downgraded by OTR Global to “Mixed”. Barclays Capital downgraded it to “Equal-Weight” rating and $14 target price in Wednesday, August 24 report. The rating was initiated by FBR Capital with “Outperform” on Friday, December 18.

According to Zacks Investment Research, “Canadian Solar Inc is a solar module producer. The Company offers ingots, wafers, solar cells, solar modules and other solar applications for on-grid and off-grid use to customers worldwide. The Company also designs and produces specialty solar modules and products such as solar-powered bus stop lighting; and specialty products, such as portable solar home systems and solar-powered car battery chargers. Canadian Solar has operations in North America, Europe and Asia. The company sells its products under the Canadian Solar brand name. Canadian Solar Inc is based in Kitchener, Canada.”

More notable recent Canadian Solar Inc. (NASDAQ:CSIQ) news were published by: Fool.com which released: “Better Buy: Canadian Solar Inc. vs. First Solar” on October 28, 2016, also Prnewswire.com with their article: “Canadian Solar Schedules Third Quarter 2016 Earnings Conference Call” published on November 08, 2016, Prnewswire.com published: “Canadian Solar Supplies 5.74 MW of PV Modules to Agricultural Projects in …” on November 03, 2016. More interesting news about Canadian Solar Inc. (NASDAQ:CSIQ) were released by: Prnewswire.com and their article: “Canadian Solar Has Won the Best PV Module Manufacturer Award in Brazil” published on October 27, 2016 as well as Prnewswire.com‘s news article titled: “Canadian Solar Secures JPY9.6 Billion Syndicated Loan with Sumitomo Mitsui …” with publication date: October 13, 2016.

CSIQ Company Profile

Canadian Solar Inc., incorporated on June 1, 2006, is a solar power company. The Firm is a well-known provider of solar power products, services and system solutions with activities in North America, South America, Europe, Africa, the Middle East, Australia and Asia. The Company’s divisions include module segment, energy development segment and electricity generation segment. The Firm designs, develops and makes 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. The Company’s energy development segment consists of solar power project development, engineering, procurement and construction (EPC) services, and operation and maintenance (O&M) services. The Company’s electricity generation segment consists of holding solar power projects for the purpose of generating income from the sale of electricity. The Company’s products include a range of solar modules for use in residential, commercial and industrial solar power generation systems. The Firm sells its products primarily under Canadian Solar brand name.

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