Canadian Solar Inc. (Nasdaq: CSIQ) Up Today

Canadian Solar Inc. – Nasdaq: CSIQ

Shares of Canadian Solar Inc. are up over 6% in today’s trading on heavy volume. The shares trade on the Nasdaq under the symbol CSIQ. CSIQ had traded under $5 in 2012 before going over $40 in 2014. Since then the shares have pulled back despite increasing sales. EPS for CSIQ hit their high in 2014 when Canadian Solar Inc. posted $4.40 EPS. Sales have been more consistent – increasing every year since 2012 and posting $3.47 Billion in 2015.

Founded in 2001 in Canada, Canadian Solar is one of the world’s largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions, Canadian Solar also has a geographically diversified pipeline of utility-scale power projects in various stages of development. In the past 15 years, Canadian Solar has successfully delivered over 17 GW of premium quality modules to over 90 countries around the world. Furthermore, Canadian Solar is one of the most bankable companies in the solar industry, having been publicly listed on NASDAQ since 2006.

In recent news, Canadian Solar Inc announced on December 19, 2016, that it has secured GBP 49.3 million (US$62.8 million) in a non-recourse term loan facility to refinance a portfolio of 10 solar power plants, with total capacity of 50 megawatts in the United Kingdom. National Westminster Bank (NatWest), a subsidiary of RBS Group, is providing the 18.7-year term facility. Part of the proceeds will be used to repay a construction loan of GBP 28.1 million (US$35.8 million).

Nine analysts cover Canadian Solar Inc. Two rate CSIQ A “Strong Buy”, six rate the shares as a “Hold”, and one has it at “Underperform”.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

12/27/2016
Ticker Symbol CSIQ
Last Price a/o 3:29 PM EST  $             13.12
Average Volume 1.67 million
Market Cap $722 million
Sales $3.3 Billion
Shares Outstanding 58.56 million
Share Float 45.3 million
Shortable Yes
Optionable Yes
Inside Ownership 31.00%
Short Float 16.12%
Short Interest Ratio 4.4
Quarterly Return -2.68%
YTD Return -57.42%
Year Return -57.96%

Author: Steve Clark

Steve Clark is a 23 year Wall St professional with stints in M&A, risk management, and algorithm trading.

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