ReneSola (NYSE:SOL) Sees Unusually-High Trading Volume

Shares of ReneSola Ltd. (NYSE:SOL) saw unusually-strong trading volume on Thursday . Approximately 1,031,156 shares changed hands during trading, an increase of 2,696% from the previous session’s volume of 36,877 shares.The stock last traded at $1.56 and had previously closed at $1.29.

A number of equities research analysts have commented on SOL shares. Zacks Investment Research cut ReneSola from a “hold” rating to a “sell” rating and set a $1.00 price target on the stock. in a report on Monday, August 19th. ValuEngine raised ReneSola from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. Finally, Roth Capital reissued a “neutral” rating on shares of ReneSola in a report on Thursday, June 27th.

The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.38. The stock has a fifty day simple moving average of $1.00 and a 200 day simple moving average of $1.31. The firm has a market capitalization of $46.48 million, a P/E ratio of 156.00 and a beta of 1.91.

ReneSola (NYSE:SOL) last posted its quarterly earnings results on Thursday, June 27th. The semiconductor company reported ($0.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.03). The business had revenue of $13.06 million during the quarter, compared to analyst estimates of $8.70 million. Research analysts anticipate that ReneSola Ltd. will post 0.06 earnings per share for the current fiscal year.

An institutional investor recently raised its position in ReneSola stock. Renaissance Technologies LLC grew its position in shares of ReneSola Ltd. (NYSE:SOL) by 1.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 764,710 shares of the semiconductor company’s stock after purchasing an additional 11,500 shares during the period. Renaissance Technologies LLC owned approximately 2.01% of ReneSola worth $979,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 12.72% of the company’s stock.

ReneSola Company Profile (NYSE:SOL)

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.

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