Canadian Solar Inc. (NASDAQ:CSIQ) focus on market diversification strategy

Pushpa Naresh - July 2, 2013

Boston, MA 02/07/2013 (wallstreetpr) – July, 2013, opened with positive signals for Canadian Solar Inc. (NASDAQ:CSIQ), a company that has recently been awarded with an exclusive module supply agreement for a total power production of 91 MW. The supply agreement was awarded to the company by Soleq Solar Thailand Co Ltd for the provision of modules to its power plant projects in Thailand.

The vast industry experience and track record for delivering quality solar power products, enabled Canadian Solar Inc. (NASDAQ:CSIQ) to acquire this supply agreement. The company is currently focusing on a market diversification strategy, with the purpose of minimizing the risk of exposure to European markets.

Shares of Canadian Solar Inc. (NASDAQ:CSIQ) increased by 7.35 percent to close at $11.80 on Monday. The shares recorded an intraday high of $12.12 per share and an intraday low of $11.50 per share during the day. During the last trading session, shares of Canadian Solar Inc. (NASDAQ:CSIQ) had a 52-week high of $12.12 and a 52-week low of $1.95 per share.

Canadian Solar Inc. (NASDAQ:CSIQ) was trading at very high volumes, namely at 4.70 million shares on Monday, while the average level of trading in the company is only 3.67 million shares per day. With 43.16 million shares outstanding in the market, Canadian Solar Inc. (NASDAQ:CSIQ) currently has a market cap of $509.15 billion and an institutional ownership of 15 percent of total share capital.

Canadian Solar Inc. (NASDAQ:CSIQ)  is primarily engaged in the design, development, manufacturing and sales of solar wafers, solar module products and cells which  are used for the conversion of sunlight into electrical energy for various applications. The products of the company include standard solar modules built with general specifications to service residential, industrial and commercial customers.

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Pushpa Naresh

Pushpa Naresh has done MBA (Finance) and an avid market tracker. She is a technical analyst who closely tracks US markets along with other global markets like India. She has been expressing her views about markets and also advises various clients.

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