Over the past three months, ReneSola Ltd [SOL] ended the trading day at $3.81 and exhibited a change of 12.39% with a 24 hour trading and reached upto the volume of 1.18M compared to its recorded trading volume of 5.5 million. SOL generated a 1 year amount change with 160.96%. Though for Principal markets a year is counted as a long time period. By having a look at the most recent performance of this stock, in the last week its amount moved by 44.32% with an amount shift of 139.62% over the last month.

On 12, October 2020, ReneSola Announces $5.0 Million Registered Direct Offering. According to news published on Yahoo Finance, ReneSola Ltd (“ReneSola Power” or the “Company”) (NYSE: SOL), a leading fully integrated solar project developer, today announced that it entered into securities purchase agreements with several institutional investors for the purchase and sale of 1,538,462 American Depositary Shares (ADSs), each representing ten (10) ordinary shares, at a purchase price of $3.25 per ADS, in a registered direct offering. The registered direct offering is expected to close on or about October 14, 2020, subject to the satisfaction of customary closing conditions.

Analyst Birdseye View:

The most recent analyst activity for ReneSola Ltd [NYSE:SOL] stock was on October 16, 2017, when it was Upgrade with a Neutral rating from ROTH Capital. Before that, on May 02, 2019, Imperial Capital Recapitulated an Outperform rating and elevated its amount target to $22. On March 29, 2017, Credit Suisse Upgrade a Neutral rating. On August 05, 2016, ROTH Capital Downgrade a Sell rating. On December 16, 2015, ROTH Capital Upgrade a Buy rating and increased its price target to $1.70. On June 03, 2015, ROTH Capital Reiterated a Neutral rating and boosted its amount target on this stock to $1.30. On July 13, 2011, Collins Stewart Reiterated a Neutral rating and decreased its target amount on this stock from $6.50 to $3.60.

In the past 52 weeks of trading, this stock has oscillated between a low of $0.85 and a peak of $4.33. Right now, the middling Wall Street analyst 12-month amount mark is $3.18. At the most recent market close, shares of ReneSola Ltd [NYSE:SOL] were valued at $3.81. According to the average price forecast, investors can expect a potential return of 0.31%.

FUNDAMENTAL ANALYSIS

ReneSola Ltd [NYSE:SOL] most recently reported quarterly sales of 26.18 billion, which represented growth of 92.60%. This publicly-traded organization’s revenue is $750,453 per employee, while its income is -$55,638 per employee. This company’s Gross Margin is currently 27.70%, its Pretax Margin is -8.88, and its Net Margin is -7.41. Continuing to look at profitability, this corporation’s Return on Assets, Equity, Whole Principal & invested Principal is sitting at -2.49, -9.54, 6.34 and -4.68 respectively.

The Principal structure of this organization shows its whole liability to whole principal at 56.15 and the whole liability to whole assets at 36.59. It shows enduring liability to the whole principal at 33.79 and enduring liability to assets at 0.22 while looking for an extended time period.

Readers are usually of view to make a close observation to the indicators that support and make resistance before moving to any particular stock. As of now, the company’s stock is sitting at 3.39 points at 1st support level, the second support level is making up to 2.97. But as of 1st resistance point, this stock is sitting at 4.14 and at 4.47 for 2nd resistance point.

ReneSola Ltd [SOL] reported its earnings at $0.06 per share in the fiscal quarter closing of 6/29/2020. Comparing the previous quarter ending of 3/30/2020, the stated earnings were -$0.09 calling estimates for -$0.03/share with the difference of -0.06 depicting the surprise of -200.00%.

Important Ratio’s To Watch

Meanwhile, turning our focus to liquidity, the Current Ratio for ReneSola Ltd [NYSE:SOL] is 0.90. Likewise, the Quick ratio is also the same, showing Cash ratio at 0.23. Now if looking for a valuation of this stock’s amount to sales ratio it’s 0.48 and it’s amount to book ratio is 0.72.

Insider Stories

The most recent insider trade was by SHAH CAPITAL MANAGEMENT, Chief Financial Officer, and it was the purchase of 0.68 million shares on Mar 23. SHAH CAPITAL MANAGEMENT, the CFO, completed a purchase of 1.21 million shares on Mar 19. On Dec 31, SHAH CAPITAL MANAGEMENT, 10% Owner, completed a purchase of 20901.0 shares.