Home / Tech & Systems / Solar Stocks Walking Away From Street Interest: Canadian Solar Inc. (NASDAQ:CSIQ), SunPower Corporation (NASDAQ:SPWR)

Solar Stocks Walking Away From Street Interest: Canadian Solar Inc. (NASDAQ:CSIQ), SunPower Corporation (NASDAQ:SPWR)

Canadian Solar Inc. (NASDAQ:CSIQ) [Trend Analysis] luring active investment momentum, shares an advance 3.34% to $13.61.  Canadian Solar Inc. (CSIQ) released that commercial operation of the 60 MWac/78 MWp Barren Ridge solar photovoltaic (PV) project developed by the Company’s wholly owned subsidiary Recurrent Energy. The Barren Ridge solar project, also known as the RE Cinco project, supplies electricity and associated renewable energy credits (RECs) to the Los Angeles Department of Water and Power (LADWP) under a long-term power purchase agreement.

Chairman and Chief Executive Officer of Canadian Solar, Shawn Qu stated that they are proud to work with LADWP to bring solar power to city of Los Angeles and share their commitment to a clean energy future. “This is the Company’s third U.S. solar project to reach commercial operation this year, a milestone that would not be possible without the hard work and collaboration with our partners.”

Finally to see some strong financial remarks by WSJ over CSIQ performance. Out of the pool of analysts 5 gave their BUY ratings on the stock in previous month as 4″ Analysts having BUY in current month. The stock was ranked as Underweight by 0 analysts while 1 analyst gave SELL rank. Majority ranked Overweight from the pool of analysts.

The next year first quarter EPS estimates trend for current period shows $0.24 while one month ago this estimate trend was for $0.25. EPS indicator shows the robustness of the stock and its analysis opens up the clear picture of company’s profitability. On annual basis of EPS, FY 2017 Estimate Trends at current were for $2.00 and for the one month was for $2.06 as compared to three months ago was for $2.72. Whereas, CSIQ received highest price target of 30.00 and low target of 12.80. The stock price target chart showed average price target of 19.34 as compared to current price of 13.61.

The total volume of 2.2 Million shares held in the session was surprisingly higher than its average volume of 2229.21 shares. EPS estimates indicating constrictive facts, the current year from sell-side analysts, Price to current year EPS stands at -28.70%, and looking further price to next year’s EPS is 28.54%. While take a short look on price to sales ratio, that was 0.22 and price to earning ratio of 5.10 attracting passive investors.

Shares of SunPower Corporation (NASDAQ:SPWR) [Trend Analysis] runs in leading trade, it surging 4.48% to traded at $9.09. The firm has price volatility of 5.07% for a week and 5.23% for a month. Its beta stands at 2.63 times. Finally, analysts shed their light over the SPWR price targets; maintaining price high target of 39.00 while at average the price target was 16.22 in contrast with the current price of 9.09. The price targets are usually acts as the boosters or blasters in the performance of stock. A higher price target would definitely provide confidence to investors during the trading action, consideration given by Wall Street Journal.

So does the rankings given by analysts; let us highlight rankings table and we had 4″ Analysts recommending BUY ratings for current month and for previous month 4 stands on similar situation; while 12 for the current month as compared to 12 analysts recommending for HOLD from the pool for previous month. While 3 stands at overweight and 0 analysts gave Underweight and 1 out of pool consider it as Sell for current month. For the overall, consensus ratings were for Hold.

Narrow down four to firm performance, its weekly performance was 12.92% and monthly performance was -9.46%. The stock price of SPWR is moving up from its 20 days moving average with 1.18% and isolated negatively from 50 days moving average with -19.74%.


About Gerard Bergeron

Gerard Bergeron covers Bio-pharmacy or healthcare sector Press Releases news updates. He has extensive three year of experience in content writing as freelance writer. He performs analysis of Healthcare Companies and provides worthy information for investor community. He is an experienced writer with a precise grasp of the English language and a clear, compelling writing style.

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