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ReneSola Ltd (SOL) – Don’t Believe the Hype: Check The Facts

ReneSola Ltd (NYSE: SOL) is -17.28% lower on its value in year-to-date trading and has touched a low of $3.46 and a high of $8.43 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The SOL stock was last observed hovering at around $4.86 in the last trading session, with the day’s gains setting it 0.07% off its average median price target of $9.50 for the next 12 months. It is also 58.92% off the consensus price target high of $12.00 offered by analysts, but current levels are 38.38% higher than the price target low of $8.00 for the same period.

Currently trading at $4.93, the stock is 6.87% and 1.69% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.23 million and changing 1.44% at the moment leaves the stock -7.13% off its SMA200. SOL registered -32.56% loss for a year compared to 6-month loss of 10.79%.

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The stock witnessed a 11.54% gain in the last 1 month and extending the period to 3 months gives it a -22.97%, and is -0.60% down 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 3.46% over the week and 4.99% over the month.

ReneSola Ltd (SOL) has around 164 employees, a market worth around $327.75M and $50.10M in sales. Fwd P/E is 16.83. Profit margin for the company is -5.50%. Distance from 52-week low is 42.49% and -41.52% from its 52-week high. The company has generated returns on investments over the last 12 months (2.70%).

ReneSola Ltd (SOL) Analyst Forecasts

The EPS is expected to grow by 76.20% this year

ReneSola Ltd (SOL) Top Institutional Holders

The shares outstanding are 66.96M, and Short Float at -.

ReneSola Ltd (SOL) Insider Activity

A total of 6 insider transactions have happened at ReneSola Ltd (SOL) in the last six months, with sales accounting for 0 and purchases happening 6 times. The most recent transaction is an insider purchase by SHAH CAPITAL MANAGEMENT, the company’s CFO. SEC filings show that SHAH CAPITAL MANAGEMENT bought 92,707 shares of the company’s common stock on Jun 29 at a price of $4.43 per share for a total of $0.41 million. Following the purchase, the insider now owns 12.75 million shares.

ReneSola Ltd disclosed in a document filed with the SEC on Jun 22 that SHAH CAPITAL MANAGEMENT (CFO) bought a total of 492,241 shares of the company’s common stock. The trade occurred on Jun 22 and was made at $4.57 per share for $2.25 million. Following the transaction, the insider now directly holds 12.66 million shares of the SOL stock.

Still, SEC filings show that on Jun 21, SHAH CAPITAL MANAGEMENT (CFO) acquired 145,000 shares at an average price of $4.63 for $0.67 million. The insider now directly holds 12,164,611 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 -5.61% down over the past 12 months and Daqo New Energy Corp. (DQ) that is -17.38% lower over the same period. JinkoSolar Holding Co. Ltd. (JKS) is -17.24% down on the 1-year trading charts.

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