Several other equities analysts have also recently commented on the stock. StockNews.com cut shares of ReneSola from a hold rating to a sell rating in a research report on Friday, June 17th. Raymond James reduced their price target on shares of ReneSola from $12.50 to $10.00 and set a strong-buy rating on the stock in a research report on Tuesday, July 12th. Finally, TheStreet raised shares of ReneSola from a d+ rating to a c- rating in a research report on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $10.67.
ReneSola Price Performance
NYSE:SOL opened at $5.10 on Thursday. The firm has a 50-day moving average of $5.74 and a two-hundred day moving average of $5.44. The stock has a market cap of $342.41 million, a P/E ratio of -127.50 and a beta of 2.20. ReneSola has a 1-year low of $3.46 and a 1-year high of $9.72.
Insiders Place Their Bets
In other ReneSola news, CFO Shah Capital Management bought 106,499 shares of the business’s stock in a transaction on Monday, June 13th. The shares were purchased at an average price of $4.40 per share, with a total value of $468,595.60. Following the completion of the acquisition, the chief financial officer now directly owns 11,710,603 shares of the company’s stock, valued at approximately $51,526,653.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 344,206 shares of company stock valued at $1,550,638 over the last quarter. Insiders own 18.02% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in SOL. Covalis Capital LLP acquired a new position in shares of ReneSola during the fourth quarter valued at approximately $7,054,000. State Street Corp grew its position in ReneSola by 26.8% in the second quarter. State Street Corp now owns 3,620,045 shares of the semiconductor company’s stock worth $17,195,000 after buying an additional 765,933 shares during the last quarter. Renaissance Technologies LLC acquired a new position in ReneSola in the second quarter worth approximately $370,000. Krane Funds Advisors LLC acquired a new position in ReneSola in the first quarter worth approximately $444,000. Finally, Goldman Sachs Group Inc. acquired a new position in ReneSola in the first quarter worth approximately $325,000. Institutional investors and hedge funds own 38.66% of the company’s stock.
ReneSola Company Profile
ReneSola Ltd, through its subsidiaries, develops, builds, operates, and sells solar power projects in the United States, Canada, Europe, and internationally. It operates through three segments: Solar Power Project Development, EPC Services, and Electricity Generation Revenue. The company also develops community solar gardens; and sells project rights.
- Get a free copy of the StockNews.com research report on ReneSola (SOL)
- Oil and Gas Stocks: A Safe Way to Invest in Renewable Energy
- Are These Green Energy Companies Right For Your Portfolio?
- When Will the Hangover Finally Be Over for Seagate Technology?
- Does Enphase Energy Have the Juice to Keep Powering Higher?
- The One Hydrogen Fuel Cell Stock To Rule Them All
Receive News & Ratings for ReneSola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ReneSola and related companies with MarketBeat.com's FREE daily email newsletter.