Canadian Solar Inc. (NASDAQ:CSIQ), one of the world’s largest solar power companies, announced that it will introduce the company’s all-black solar module product line into the Americas market, covering both the North and South American continents. The new product line includes both an all-black CS6K-M monocrystalline module and an all-black CS6K-P module, both of which feature improved, aesthetically pleasing black polycrystalline technology. This all-black module line is specifically targeted for consumers in the residential market.
The introduction of these modules into the North and South American markets represents a strategic business decision for Canadian Solar’s Americasdivision. With the company’s 14-year track record in module manufacturing, state-of-the-art product design, and effective management, Canadian Solarwill finalize product specifications at the end of April. Production runs for the CS6K-M are expected to begin in May, with production runs for the CS6K-P expected to begin in early June.
The product features on these modules are unique in the marketplace with the “all-black concept” including a black frame, black backsheet, and dark cells in both mono and polycrystalline cell technologies. The CS6K all-black monocrystalline modules with dark cells will be offered in three power classes: the 255W, 260W, and 265W. Meanwhile, the CS6K all-black polycrystalline modules with dark cells will be offered in two power classes: the 250W and 255W. The module efficiency on the monocrystalline module is 16.19%, while the module efficiency on the polycrystalline module is 15.58%.
Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, commented, “The introduction of these all-black modules into the Americasmarket is a great addition to Canadian Solar’s diverse product portfolio, especially for the residential segment. In particular, this new product line will allow the company to continue gaining market share throughout the region.”
Shares of Canadian Solar closed yesterday at $31.65 . CSIQ has a 1-year high of $41.12 and a 1-year low of $18.68. The stock’s 50-day moving average is $26.51 and it’s 200-day moving average is $28.65.
On the ratings front, Canadian Solar has been the subject of a number of recent research reports. In a report issued on March 6, Standpoint Research analyst Ronnie Moas downgraded CSIQ to Hold. Separately, on January 5, Roth Capital’s Philip Shen maintained a Buy rating on the stock and has a price target of $40.
According to TipRanks, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ronnie Moas and Philip Shen has a total average return of 9.1% and -5.7% respectively. Moas has a success rate of 73.4% and is ranked 11 out of 3511 while Shen has a success rate of 34.8% and is ranked 3367
Canadian Solar Inc is a solar power company. The Company designs, develops, and manufactures solar wafers, cells and solar power products.