CSIQ Stock Summary and Trading Ideas (Canadian Solar - Common Shares | NASDAQ:CSIQ)

Canadian Solar Inc is a Canadian solar power company. It is an integrated provider of solar power products, services, and system solutions. The company engages in designing, developing and manufacturing solar ingots, wafers, cells, modules and other solar power products. It operates through two business segments CSI Solar and Global Energy segment. The CSI Solar segment design, develop and manufacture solar ingots, wafers, cells, modules and other solar power and battery storage products. Its Energy segment primarily comprises solar and battery storage project development and sale, O&M and asset management services for operational projects, sale of electricity, and investment in retained assets.

Canadian Solar - Common Shares trades on the NASDAQ stock market under the symbol CSIQ.

As of April 18, 2024, CSIQ stock price declined to $14.53 with 3,255,763 million shares trading.

CSIQ has a beta of 2.13, meaning it tends to be more sensitive to market movements. CSIQ has a correlation of 0.23 to the broad based SPY ETF.

CSIQ has a market cap of $939.42 million. This is considered a Small Cap stock.

Last quarter Canadian Solar - Common Shares reported $2 billion in Revenue and -$.02 earnings per share. This beat revenue expectation by $12 million and missed earnings estimates by -$.02.

In the last 3 years, CSIQ stock traded as high as $48.35 and as low as $14.11.

The top ETF exchange traded funds that CSIQ belongs to (by Net Assets): TAN, VXUS, VWO, ICLN, PBW.

CSIQ has underperformed the market in the last year with a price return of -64.3% while the SPY ETF gained +22.3%. CSIQ has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -29.7% and -25.2%, respectively, while the SPY returned +6.1% and -3.8%, respectively.

CSIQ support price is $14.52 and resistance is $15.72 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CSIQ stock will trade within this expected range on the day.