ReneSola Ltd. (NYSE:SOL)’s share price was up 1.6% during trading on Wednesday . The company traded as high as $1.50 and last traded at $1.34, approximately 32,922 shares were traded during trading. A decline of 27% from the average daily volume of 45,229 shares. The stock had previously closed at $1.32.
A number of equities analysts have commented on SOL shares. Zacks Investment Research downgraded shares of ReneSola from a “hold” rating to a “sell” rating and set a $1.50 price objective for the company. in a research report on Monday, January 6th. ValuEngine upgraded shares of ReneSola from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th.
The stock’s fifty day moving average price is $1.36 and its 200-day moving average price is $1.34. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $58.66 million, a PE ratio of 150.00 and a beta of 2.12.
In related news, major shareholder Shah Capital Management purchased 35,375 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was acquired at an average price of $1.41 per share, for a total transaction of $49,878.75. Following the acquisition, the insider now directly owns 47,370 shares of the company’s stock, valued at approximately $66,791.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
A hedge fund recently bought a new stake in ReneSola stock. Virtu Financial LLC bought a new stake in shares of ReneSola Ltd. (NYSE:SOL) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 23,202 shares of the semiconductor company’s stock, valued at approximately $35,000. Virtu Financial LLC owned approximately 0.06% of ReneSola at the end of the most recent quarter. 38.90% of the stock is owned by institutional investors.
About ReneSola (NYSE:SOL)
ReneSola Ltd, through its subsidiaries, develops, builds, operates, and sells solar power projects. It operates through three segments: solar power project development, EPC services, and electricity revenue generation. The company also develops community solar gardens; and sells projects rights. In addition, its engineering, and procurement and construction business includes engineering design, procurement of solar modules, balance-of-system and other components, and construction contracting and management services.
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