ReneSola Ltd. (SOL) Short Interest Down 58.9% in August
ReneSola Ltd. (NYSE:SOL) was the target of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 484,808 shares, a decrease of 58.9% from the August 15th total of 1,180,953 shares. Based on an average trading volume of 461,019 shares, the short-interest ratio is currently 1.1 days.
Several hedge funds have recently modified their holdings of SOL. Acadian Asset Management LLC raised its stake in shares of ReneSola by 307.2% in the first quarter. Acadian Asset Management LLC now owns 3,097,524 shares of the company’s stock worth $4,464,000 after buying an additional 2,336,854 shares during the period. Renaissance Technologies LLC raised its stake in shares of ReneSola by 45.5% in the first quarter. Renaissance Technologies LLC now owns 1,641,500 shares of the company’s stock worth $2,364,000 after buying an additional 512,936 shares during the period. Shah Capital Management raised its stake in shares of ReneSola by 8.7% in the second quarter. Shah Capital Management now owns 4,908,535 shares of the company’s stock worth $6,086,000 after buying an additional 391,241 shares during the period. Emerald Acquisition Ltd. purchased a new stake in shares of ReneSola during the second quarter worth approximately $197,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in shares of ReneSola during the first quarter worth approximately $178,000. Institutional investors own 12.21% of the company’s stock.
A number of brokerages have recently commented on SOL. Roth Capital reissued a “hold” rating and set a $1.45 price objective on shares of ReneSola in a report on Tuesday, May 24th. TheStreet lowered ReneSola from a “hold” rating to a “sell” rating in a report on Wednesday, August 24th. Zacks Investment Research raised ReneSola from a “hold” rating to a “strong-buy” rating and set a $1.50 price objective on the stock in a report on Wednesday, May 25th. Finally, Credit Suisse Group AG set a $1.00 price objective on ReneSola and gave the company a “sell” rating in a report on Thursday, August 18th.
Shares of ReneSola (NYSE:SOL) opened at 0.98 on Monday. The firm has a market cap of $98.98 million, a price-to-earnings ratio of 3.75 and a beta of 3.26. ReneSola has a 12-month low of $0.91 and a 12-month high of $1.95. The firm has a 50-day moving average price of $1.18 and a 200-day moving average price of $1.30.
ReneSola (NYSE:SOL) last issued its quarterly earnings results on Wednesday, August 24th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $250 million for the quarter, compared to analyst estimates of $284.39 million. ReneSola had a return on equity of 23.61% and a net margin of 2.26%. The company’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.02) earnings per share. Equities research analysts anticipate that ReneSola will post ($0.17) EPS for the current year.
ReneSola Ltd is a holding company. The Company is a brand and technology provider of energy-efficient products based in China. The Company’s segments include wafer sales, cell and module sales, and solar power projects. The wafer sales segment involves the manufacture and sales of monocrystalline and multicrystalline solar wafers and processing services.
Receive News & Ratings for ReneSola Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ReneSola Ltd. and related companies with Analyst Ratings Network's FREE daily email newsletter.