These Numbers Could Change Investor Views For ReneSola Ltd (NYSE: SOL)

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    Renaissance Technologies LLC recently announced the acquisition of new stake in ReneSola Ltd (NYSE:SOL). The institutional investor has increased its shareholding in the Technology company by 4.32% to 0.78 million shares with purchase of 32135.0 shares. This fresh investment now brings its stake to 1.62% valued currently at $1.13 million. In addition, SSgA Funds Management, Inc. raised its holdings by 2625.0 to 29091.0 shares.

    With over 1.03 million ReneSola Ltd (SOL) shares trading Monday and a closing price of $2.22 on the day, the dollar volume was approximately $2.29 million. The shares have shown a positive weekly performance of 27.59% and its price on 08/24/20 gained nearly 12.12%. Currently, there are 48.08M common shares owned by the public and among those 10.98M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for SOL have a consensus price objective of $1.10. The analysts have set the share’s price value over the next 12 months at a high of $1.10 and a low of $1.10 should the stock experience a downside. The average price target is -101.82% below its last price level and a downside to the estimated low will see the stock lose -101.82% over that period. But an upside of -101.82% will see the stock hit the forecast high price target while mean target price for the stock is $1.10.

    Insiders at the company have transacted a total of 5 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 5 of these insider trades were purchases, accounting for 1,958,660 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.

    The top 3 mutual fund holders in ReneSola Ltd are SPDR Portfolio Emerging Markets E, Sistema Symphonia – Asia Flessibi, and Sistema Symphonia – Azionario Alt. SPDR Portfolio Emerging Markets E owns 29516.0 shares of the company’s stock, all valued at over $42798.0. Sistema Symphonia – Azionario Alt now owns shares totaling to 0.05% of the shares outstanding.

    Shares of ReneSola Ltd (NYSE: SOL) opened at $2.07, up $0.09 from a prior closing price of $1.98. However, the script later closed the day at $2.22, up 12.12%. The company’s stock has a 5-day price change of 27.59% and 124.81% over the past three months. SOL shares are trading 56.89% year to date (YTD), with the 12-month market performance up to 143.47% higher. It has a 12-month low price of $0.85 and touched a high of $2.09 over the same period. Currently, 1.03 million shares have been traded, compared to an average intraday trading volume of 111.56K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 32.64%, 56.16%, and 70.54% respectively.

    Institutional ownership of ReneSola Ltd (NYSE: SOL) shares accounts for 31.20% of the company’s 48.08M shares outstanding. Mutual fund holders own 30.59%, while other institutional holders and individual stakeholders account for 31.03% and 0.17% respectively.

    It has a market capitalization of $101.92M and a beta (3y monthly) value of 1.57. The earnings-per-share (ttm) stands at -$0.95. The company has a debt-to-equity ratio at 1.07. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.78% over the week and 8.01% over the month.

    Analysts forecast that ReneSola Ltd (SOL) will achieve an EPS of $0 for the current quarter, $0.01 for the next quarter and $0.04 for 2021. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was $0.13 a year ago. Earnings per share for the fiscal year are expected to increase by 63.60%, and 150.00% over the next financial year. EPS should grow at an annualized rate of 15.00% over the next five years, compared to -5.70% over the past 5-year period.

    Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”

    Looking at the support for the SOL, a number of firms have released research notes about the stock. Imperial Capital stated their Outperform rating for the stock in a research note on May 02, 2019, with the firm’s price target at $20-$22. ROTH Capital coverage for the ReneSola Ltd (SOL) stock in a research note released on October 16, 2017 offered a Neutral rating with a price target of. Credit Suisse was of a view on March 29, 2017 that the stock is Neutral, while ROTH Capital gave the stock Sell rating on August 05, 2016, issuing a price target of. ROTH Capital on their part issued Buy rating on December 16, 2015.

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