Canadian Solar (CSIQ) : Traders are bullish on Canadian Solar (CSIQ) as it has outperformed the S&P 500 by a wide margin of 5.13% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 5.84%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 6.02% in the last 1 week, and is up 4.57% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 6.83% and the 50-Day Moving Average is 2.27%.The 200 Day SMA reached 22.87%
Canadian Solar (NASDAQ:CSIQ): The stock opened in the green at $13.94 on Friday, but the bulls found it difficult to push the prices higher. The stock reached a high of $14.17 and a low of $13.68 for the day. The stock did not find buyers even at the lows and closed at $13.74 recording a loss of -2.69%. 1,910,979 shares exchanged hands during the trading day. The stock had closed at $13.74 in the previous days trading.
Canadian Solar (CSIQ) : The consensus price target for Canadian Solar (CSIQ) is $18.69 for the short term with a standard deviation of $6.29. The most optimist securities analyst among the 7 who monitor the stock believes that the stock can reach $30, however, the pessimist price target for the company is $13.
Canadian Solar Inc. is a solar power company, which designs, develops and manufactures solar wafers, solar cells and solar power products. The Companys solar power products include standard solar modules and specialty solar products. It has two segments: module segment and energy segment. The Companys module segment primarily involves design, development, manufacture and sales of solar power products and solar system kits. The Companys energy segment involves solar power project development, engineering, procurement and construction services, operations and maintenance services, and electricity revenue generation. Its products include a range of solar modules for use in residential, commercial and industrial solar power generation systems. Its specialty solar products consist of solar modules that the customers incorporate into their own products and complete specialty products, such as portable solar home systems. The Company sells its products under Canadian Solar brand name.