ReneSola Ltd (NYSE: SOL) is 28.78% higher on its value in year-to-date trading and has touched a low of $0.85 and a high of $13.20 in the current 52-week trading range. The SOL stock was last observed hovering at around $12.77 in the last trading session, with the day’s gains setting it 1.95% off its average median price target of $9.25 for the next 12 months. It is also -22.67% off the consensus price target high of $12.00 offered by 2 analysts, but current levels are -126.46% lower than the price target low of $6.50 for the same period.
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Currently trading at $14.72, the stock is 68.56% and 136.68% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.11 million and changing 15.27% at the moment leaves the stock 438.33% off its SMA200. SOL registered 1015.15% gain for a year compared to 6-month gain of 1106.56%. The firm has a 50-day simple moving average (SMA 50) of $7.63 and a 200-day simple moving average (SMA200) of $3.51.
The stock witnessed a 135.52% loss in the last 1 month and extending the period to 3 months gives it a 591.08%, and is 17.76% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 18.82% over the week and 16.58% over the month.
ReneSola Ltd (SOL) has around 222 employees, a market worth around $858.18M and $83.60M in sales. Fwd P/E is 47.48. Profit margin for the company is -12.10%. Distance from 52-week low is 1625.27% and 11.52% from its 52-week high. The company has generated returns on investments over the last 12 months (-1.10%).
ReneSola Ltd (SOL) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for ReneSola Ltd (SOL) is a “Overweight”. 2 analysts offering their recommendations for the stock have an average rating of 2.50, where 1 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
ReneSola Ltd is expected to release its quarterly report on 06/08/2021 and quarterly earnings per share for the current quarter are estimated at -$0.01 with sales reaching $24.56M over the same period.The EPS is expected to grow by 104.50% this year, but quarterly earnings will post -31.40% year-over-year. Quarterly sales are estimated to shrink -7.40% in year-over-year returns.
ReneSola Ltd (SOL) Top Institutional Holders
25 institutions hold shares in ReneSola Ltd (SOL), with institutional investors hold 27.09% of the company’s shares. The shares outstanding are 101.80M, and float is at 16.25M with Short Float at 8.43%. Institutions hold 27.09% of the Float.
The top institutional shareholder in the company is Shah Capital Management with over 14.07 million shares valued at $29.12 million. The investor’s holdings represent 87.42% of the SOL Shares outstanding. As of Sep 29, 2020, the second largest holder is Renaissance Technologies, LLC with 0.89 million shares valued at $1.84 million to account for 5.52% of the shares outstanding. The other top investors are Millennium Management LLC which holds 0.13 million shares representing 0.79% and valued at over $0.26 million, while Marshall Wace LLP holds 0.47% of the shares totaling 76163.0 with a market value of $0.16 million.
ReneSola Ltd (SOL) Insider Activity
The most recent transaction is an insider sale by SHAH CAPITAL MANAGEMENT, the company’s CFO. SEC filings show that SHAH CAPITAL MANAGEMENT sold 26,000 shares of the company’s common stock on Dec 31 at a price of $11.90 per share for a total of $0.31 million. Following the sale, the insider now owns 11.16 million shares.
ReneSola Ltd disclosed in a document filed with the SEC on Dec 30 that SHAH CAPITAL MANAGEMENT (CFO) sold a total of 360,427 shares of the company’s common stock. The trade occurred on Dec 30 and was made at $12.68 per share for $4.57 million. Following the transaction, the insider now directly holds 0.45 million shares of the SOL stock.
Still, SEC filings show that on Dec 29, SHAH CAPITAL MANAGEMENT (CFO) disposed off 200,500 shares at an average price of $12.25 for $2.46 million. The insider now directly holds 11,499,500 shares of ReneSola Ltd (SOL).
ReneSola Ltd (SOL): Who are the competitors?
The company’s main competitors (and peers) include Canadian Solar Inc. (CSIQ) that is trading 126.34% up over the past 12 months. JinkoSolar Holding Co. Ltd. (JKS) is 187.82% up on the 1-year trading charts. Short interest in the company’s stock has risen 63.03% from the last report on Nov 12, 2020 to stand at a total of 0.51 million short shares sold with a short interest ratio of 0.38.