Separately, Zacks Investment Research lowered ReneSola from a “buy” rating to a “hold” rating and set a $1.75 price objective for the company. in a research note on Tuesday, November 19th.
Shares of NYSE SOL opened at $1.60 on Wednesday. The firm’s 50-day moving average price is $1.50 and its 200-day moving average price is $1.30. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $55.33 million, a price-to-earnings ratio of 160.00 and a beta of 2.16. ReneSola has a 12-month low of $0.86 and a 12-month high of $2.11.
In other news, insider Barlow Todd acquired 21,510 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was bought at an average cost of $22.74 per share, with a total value of $489,158.91.
Several large investors have recently made changes to their positions in SOL. Virtu Financial LLC bought a new position in shares of ReneSola during the third quarter valued at approximately $35,000. Susquehanna International Group LLP lifted its stake in shares of ReneSola by 21.4% during the 2nd quarter. Susquehanna International Group LLP now owns 190,398 shares of the semiconductor company’s stock worth $244,000 after acquiring an additional 33,544 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in ReneSola by 1.5% during the 2nd quarter. Renaissance Technologies LLC now owns 764,710 shares of the semiconductor company’s stock valued at $979,000 after acquiring an additional 11,500 shares during the period. Institutional investors and hedge funds own 12.41% of the company’s stock.
ReneSola Company Profile
ReneSola Ltd, through its subsidiaries, develops, builds, operates, and sells solar power projects. It operates through three segments: solar power project development, EPC services, and electricity revenue generation. The company also develops community solar gardens; and sells projects rights. In addition, its engineering, and procurement and construction business includes engineering design, procurement of solar modules, balance-of-system and other components, and construction contracting and management services.
See Also: Cost of Equity For A Business, Investors
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