Trade-Ideas: Canadian Solar (CSIQ) Is Today's

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Canadian Solar ( CSIQ) as a "dead cat bounce" (down big yesterday but up big today) candidate. In addition to specific proprietary factors, Trade-Ideas identified Canadian Solar as such a stock due to the following factors:

  • CSIQ has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $59.9 million.
  • CSIQ has traded 138,714 shares today.
  • CSIQ is up 3.1% today.
  • CSIQ was down 5.4% yesterday.

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More details on CSIQ:

Canadian Solar Inc., together with its subsidiaries, designs, develops, manufactures, and sells solar wafers, cells, and solar module products worldwide. The company operates in two segments, Module and Project. CSIQ has a PE ratio of 31.2. Currently there are 5 analysts that rate Canadian Solar a buy, no analysts rate it a sell, and none rate it a hold.

The average volume for Canadian Solar has been 3.1 million shares per day over the past 30 days. Canadian Solar has a market cap of $1.4 billion and is part of the technology sector and electronics industry. The stock has a beta of 2.91 and a short float of 8.2% with 1.60 days to cover. Shares are down 20.9% year-to-date as of the close of trading on Friday.

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