ReneSola Ltd [SOL] Stock trading around $3.64 per share: What’s Next?

ReneSola Ltd [NYSE: SOL] stock went on a downward path that fall over -7.61% on Wednesday, amounting to a one-week price decrease of less than -0.55%. The company report on October 12, 2020 that ReneSola Announces $5.0 Million Registered Direct Offering.

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.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. Roth Capital Partners is acting as financial advisor for the offering.

Over the last 12 months, SOL stock rose by 133.33%. The one-year ReneSola Ltd stock forecast points to a potential downside of -14.83. The average equity rating for SOL stock is currently 2.50, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $211.92 million, with 58.22 million shares outstanding and 5.12 million shares in the current float. Compared to the average trading volume of 1.47M shares, SOL stock reached a trading volume of 2237149 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on ReneSola Ltd [SOL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SOL shares is $3.17 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SOL stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Imperial Capital have made an estimate for ReneSola Ltd shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on May 02, 2019. The new note on the price target was released on October 16, 2017, representing the official price target for ReneSola Ltd stock.

The Average True Range (ATR) for ReneSola Ltd is set at 0.51, with the Price to Sales ratio for SOL stock in the period of the last 12 months amounting to 1.67. The Price to Book ratio for the last quarter was 1.87, with the Price to Cash per share for the same quarter was set at 0.19.

SOL Stock Performance Analysis:

ReneSola Ltd [SOL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.55. With this latest performance, SOL shares gained by 52.94% in over the last four-week period, additionally plugging by 260.40% over the last 6 months – not to mention a rise of 133.33% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SOL stock in for the last two-week period is set at 57.51, with the RSI for the last a single of trading hit 56.16, and the three-weeks RSI is set at 59.11 for ReneSola Ltd [SOL]. The present Moving Average for the last 50 days of trading for this stock 2.37, while it was recorded at 3.89 for the last single week of trading, and 1.51 for the last 200 days.

Insight into ReneSola Ltd Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and ReneSola Ltd [SOL] shares currently have an operating margin of +14.87 and a Gross Margin at +28.73. ReneSola Ltd’s Net Margin is presently recorded at -7.41.

Return on Total Capital for SOL is now 6.34, given the latest momentum, and Return on Invested Capital for the company is -4.68. Return on Equity for this stock declined to -9.54, with Return on Assets sitting at -2.49. When it comes to the capital structure of this company, ReneSola Ltd [SOL] has a Total Debt to Total Equity ratio set at 128.05. Additionally, SOL Total Debt to Total Capital is recorded at 56.15, with Total Debt to Total Assets ending up at 36.59. Long-Term Debt to Equity for the company is recorded at 77.06, with the Long-Term Debt to Total Capital now at 33.79.

Reflecting on the efficiency of the workforce at the company, ReneSola Ltd [SOL] managed to generate an average of -$55,638 per employee. Receivables Turnover for the company is 3.47 with a Total Asset Turnover recorded at a value of 0.34.ReneSola Ltd’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.90.

SOL Stock EPS

With the latest financial reports released by the company, ReneSola Ltd posted 0.06/share EPS, while the average EPS was predicted by analysts to be reported at 0.05/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 20.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SOL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for ReneSola Ltd go to 15.00%.

ReneSola Ltd [SOL] Insider Position Details

Positions in ReneSola Ltd stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 8 institutional holders increased their position in ReneSola Ltd [NYSE:SOL] by around 50,785 shares. Additionally, 5 investors decreased positions by around 47,699 shares, while 7 investors held positions by with 14,850,457 shares. The mentioned changes placed institutional holdings at 14,948,941 shares, according to the latest SEC report filing. SOL stock had 4 new institutional investments in for a total of 13,646 shares, while 5 institutional investors sold positions of 47,699 shares during the same period.

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