Canadian Solar Inc. (NASDAQ:CSIQ) stock experienced trading -15.60% off 52-week high price. On the other end, the stock has been noted 50.69% away from low price over the last 52-weeks. The stock disclosed a move of 6.62% away from 50 day moving average and 8.24% away from 200 day moving average. Moving closer, we can see that shares have been trading 0.45% off 20-day moving average. It has market cap of $1.32B.
On Jan. 6, 2020, Canadian Solar Inc. (NASDAQ:CSIQ) one of the world’s largest solar power companies, reported the acquisition of a 47.5 MWp portfolio of solar projects under development in Chile. These projects will become operational in two different stages, beginning from the fourth quarter of 2020.
The projects will be located in the Araucanía and Maule Regions of Chile and will use approximately 132,000 pieces of Canadian Solar’s high efficiency BiHiKu bifacial modules, expected to generate over 89.1 GWh of electricity or power approximately 28,500 households per year. The projects will operate under the PMGD (Pequeños Medios de Generación Distribuída) scheme, and given their current stage of development, will be part of the current stabilized price regime, with prices updated and published by the CNE (Comisión Nacional de Energía) every 6 months.
Dr. Shawn Qu, Canadian Solar’s Chairman and CEO commented, As reflected in this acquisition, we are highly confident in the value of these small solar projects in Chile. Due to their size and location, they bring clean and reliable energy to rural areas, reducing the distance between power generation and consumption, and improving the quality of the grid. These plants are valuable additions to Canadian Solar’s current portfolio in Latin America and solidify our leading position in this region where we have been cumulatively awarded 2.2 GWp in solar projects across Brazil, Chile, Argentina and Mexico. The Canada based company Canadian Solar Inc. moved with change of 0.88% to $21.85 with the total traded volume of 671398 shares in recent session versus to an average volume of 938.77K. The stock was observed in the 5 days activity at 6.59%. The one month performance of stock was -2.26%. CSIQ’s shares are at 25.94% for the quarter and driving a 4.30% return over the course of the past year and is now at -1.13% since this point in 2018. Right now the stock beta is 2.07. The average volatility for the week and month was at 3.20% and 3.13% respectively. There are 60.59M shares outstanding and 45.35M shares are floated in market.