New Energy Solar Ltd (ASX:NEW) shot up 0.4% on Thursday . The company traded as high as A$1.27 ($0.90) and last traded at A$1.26 ($0.89), 34,486 shares changed hands during mid-day trading. The stock had previously closed at A$1.26 ($0.89).
The stock has a market capitalization of $442.34 million and a price-to-earnings ratio of 11.56. The stock’s 50 day moving average is A$1.28 and its two-hundred day moving average is A$1.32.
In related news, insider Alan Dixon bought 58,787 shares of New Energy Solar stock in a transaction that occurred on Wednesday, July 31st. The stock was purchased at an average cost of A$1.30 ($0.92) per share, with a total value of A$76,423.10 ($54,200.78).
New Energy Solar Limited acquires, owns and manages large scale solar generation facilities. The firm may also invest in other renewable energy assets including wind, geothermal, hydro-electricity, hybrid solutions and owns and manages large scale solar generation facilities. New Energy Solar Limited was established in 2015 and is based in Sydney, Australia.
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