Worth Watching Stock for Traders: Merrimack Pharmaceuticals (Nasdaq: MACK)

Robert Cieslak

Merrimack Pharmaceuticals (Nasdaq: MACK) changed -2.04% to recent value of $20.19. The stock transacted 494959 shares during most recent day however it has an average volume of 698.37K shares. It spotted trading -22.02% off 52-week high price. On the other end, the stock has been noted 64.15% away from the low price over the last 52-weeks.

On July 25, 2019, Canadian Solar Inc. (NASDAQ: CSIQ), one of the world’s largest solar power companies,  announced that it has signed an agreement for the purchase of electricity from its 32 MWp/23 MWac Suffield solar facility with Direct Energy, one of North America’s largest energy and energy-related services providers, and a subsidiary of Centrica PLC. The Suffield project, located in Southeast Alberta, is anticipated to be the largest solar photovoltaic (PV) facility in the province of Alberta when it enters operation in 2020.

We’ve enjoyed partnering with Direct Energy to develop creative solutions like the long-term electricity off-take agreement signed on the Suffield solar project, said Shawn Qu, chairman at Canadian Solar. We’re proud to bring some of the latest solar technology to Alberta, the Canadian province known for its energy leadership. The Suffield project will utilize bifacial solar modules, which are well-suited to operate not only in the heat of summer when air conditioning drives electricity demand, but also in cloudy or even snowy weather.

Bifacial modules, such as Canadian Solar’s high efficiency BiKu modules that will be used on the project, offer many advantages when compared with traditional solar panels. Producing electricity from both sides of the solar panel allows for an increase in both total energy generation and in reliability during winter months. The Suffield project will also employ single-axis trackers, which allow the solar arrays to follow the sun’s trajectory throughout the day, also maximizing electricity production.

With increased customer demand in summer, the addition of 23 megawatts of solar output will help Direct Energy build renewable power supply options for our customers and provide an alternative to traditional market-based hedges, said David Brast, Senior Vice President, North America – Power & Gas, Direct Energy Business. We are also proud that our long-term agreement with Canadian Solar on the Suffield project is the first major step in Alberta towards Centrica’s global commitment to provide products and services that lead to a lower carbon future.

While the majority of funding for the facility has been provided through private market investment, it was announced in January that the Suffield project was awarded $15.3 million in funding through Natural Resources Canada’s Emerging Renewable Power Program. Suffield was selected for this funding as the project will deploy within Canada some of the latest advancements in renewable technology, while spurring further investment in the industry.

Suffield will employ approximately 250 people during construction and will power approximately 7,400 households annually once it enters operation in 2020.

 CSIQ has a gross margin of 26.30% and an operating margin of 10.40% while its profit margin remained 6.30% for the last 12 months. Its earnings per share (EPS) expected to touch remained 129.20% for this year.

 The company has 58.67M of outstanding shares and 45.48M shares were floated in the market. According to the most recent quarter its current ratio was 1 that represents company’s ability to meet its current financial obligations. The price moved ahead of -5.15% from the mean of 20 days, -1.41% from mean of 50 days SMA and performed 7.55% from mean of 200 days price. Company’s performance for the week was -2.60%, -5.08% for month and YTD performance remained 40.79%.

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