ReneSola (NYSE:SOL) Trading Up 1.6%

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.

ReneSola (NYSE:SOL) last announced its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.01. The business had revenue of $65.96 million during the quarter. ReneSola had a negative net margin of 2.42% and a positive return on equity of 1.70%. During the same quarter in the prior year, the business earned $0.04 EPS. Sell-side analysts forecast that ReneSola Ltd. will post 0.18 earnings per share for the current fiscal year.

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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