The short interest in Canadian Solar (NASDAQ:CSIQ) has declined from 6,632,006 on May 31,2016 to 5,942,074 on June 15,2016. The change was measured at 689,932 shares or 10.4%. The leftover shorts were 13.5% of the floated shares. The days to cover are 3, given the average daily volume of 2,035,048 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Canadian Solar (NASDAQ:CSIQ): The stock opened at $15.00 on Friday but the bulls could not build on the opening and the stock topped out at $15.63 for the day. The stock traded down to $14.50 during the day, due to lack of any buying support eventually closed down at $14.83 with a loss of -8.74% for the day. The stock had closed at $16.25 on the previous day. The total traded volume was 4,348,604 shares.
The company shares have dropped -47.50% from its 1 Year high price. On Jun 29, 2015, the shares registered one year high at $30.12 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $17.14 and the 200 Day Moving Average price is recorded at $19.98.
Canadian Solar (NASDAQ:CSIQ) has tumbled 5.9% during the past week and has dropped 20.78% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 4.34%. Canadian Solar (NASDAQ:CSIQ) has underperformed the index by 18.38% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
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.