ReneSola Ltd. (NYSE:SOL) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.33 and traded as high as $1.40. ReneSola shares last traded at $1.35, with a volume of 393 shares changing hands.
Several research firms have issued reports on SOL. Zacks Investment Research cut ReneSola from a “hold” rating to a “sell” rating and set a $1.50 price target on the stock. in a report on Monday, January 6th. ValuEngine cut ReneSola from a “sell” rating to a “strong sell” rating in a report on Friday, January 3rd.
The company has a market cap of $52.94 million, a P/E ratio of 140.00 and a beta of 2.12. The company has a fifty day simple moving average of $1.43 and a 200-day simple moving average of $1.33. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.94.
In other news, major shareholder Shah Capital Management bought 30,625 shares of the business’s stock in a transaction on Tuesday, December 31st. The stock was purchased at an average price of $1.41 per share, with a total value of $43,181.25. Also, insider Barlow Todd acquired 21,510 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were bought at an average cost of $22.74 per share, with a total value of $489,158.91. In the last three months, insiders have acquired 87,510 shares of company stock valued at $582,219.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC raised its position in shares of ReneSola by 1.5% during the second quarter. Renaissance Technologies LLC now owns 764,710 shares of the semiconductor company’s stock valued at $979,000 after buying an additional 11,500 shares during the last quarter. Susquehanna International Group LLP raised its position in shares of ReneSola by 21.4% during the second quarter. Susquehanna International Group LLP now owns 190,398 shares of the semiconductor company’s stock valued at $244,000 after buying an additional 33,544 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of ReneSola during the third quarter valued at about $35,000. 12.47% of the stock is owned by institutional investors and hedge funds.
ReneSola Company Profile (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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