ReneSola (NYSE:SOL) Stock Passes Above 200-Day Moving Average of $1.33

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.

ReneSola (NYSE:SOL) last posted its quarterly earnings data on Monday, November 25th. The semiconductor company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. The firm had revenue of $65.96 million for 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 previous year, the firm posted $0.04 earnings per share. On average, analysts anticipate that ReneSola Ltd. will post 0.18 EPS for the current year.

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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