Renesola Ltd. (SOL) Sees Strong Trading Volume
Renesola Ltd. (NYSE:SOL) shares saw unusually-strong trading volume on Monday . Approximately 797,496 shares were traded during mid-day trading, an increase of 1,615% from the previous session’s volume of 46,511 shares.The stock last traded at $2.76 and had previously closed at $2.36.
Separately, Roth Capital raised Renesola from a “sell” rating to a “neutral” rating and set a $3.00 price target for the company in a report on Monday, October 16th.
The company’s market capitalization is $58.15 million. The stock’s 50-day moving average price is $2.35 and its 200 day moving average price is $2.50.
Renesola (NYSE:SOL) last announced its earnings results on Wednesday, September 27th. The semiconductor company reported ($1.57) earnings per share for the quarter, missing the consensus estimate of ($0.76) by ($0.81). Renesola had a negative net margin of 13.84% and a negative return on equity of 187.64%. The company had revenue of $151.63 million during the quarter, compared to analysts’ expectations of $180.70 million. On average, analysts predict that Renesola Ltd. will post ($2.68) EPS for the current fiscal year.
A hedge fund recently bought a new stake in Renesola stock. Edmond DE Rothschild Holding S.A. bought a new stake in Renesola Ltd. (NYSE:SOL) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 71,600 shares of the semiconductor company’s stock, valued at approximately $175,000. Edmond DE Rothschild Holding S.A. owned about 0.36% of Renesola at the end of the most recent quarter. Institutional investors own 17.53% of the company’s stock.
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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 solar power projects. The solar power projects segment involves sales of solar power projects and electricity generation revenue of certain project assets it owns and operates.
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