Friday, January 15, 2021

ReneSola Ltd [SOL] Stock trading around $20.87 per share: What’s Next?

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ReneSola Ltd [NYSE: SOL] traded at a high on 01/08/21, posting a 15.88 gain after which it closed the day’ session at $20.87. The company report on January 8, 2021 that ReneSola Power Announces Sale of 12.3 MW of Projects in Hungary.

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ReneSola Ltd (“ReneSola Power” or the “Company”) (www.renesolapower.com) (NYSE: SOL), a leading fully integrated solar project developer, announced that it entered into an agreement to sell a portfolio of projects located in Hungary to Obton, a leading international solar investment company headquartered in Aarhus, Denmark.


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The portfolio comprises 20 solar plants in five locations, including Sárbogárd, Kömlöd, Szajol, Lukacshaza, and Törökszentmiklós, with a combined capacity of 12.3 MW. These 20 solar projects, which were successfully connected to the grid in 2020, are now in operation and are qualified under the Hungarian 25-year KAT feed-in tariff scheme.

The results of the trading session contributed to over 6491468 shares changing hands. Over the past one week, the price volatility of ReneSola Ltd stands at 25.45% while the volatility over the past one month is 18.93%.

The market cap for SOL stock reached $1.03 billion, with 101.80 million shares outstanding and 19.61 million shares in the current float. Compared to the average trading volume of 3.81M shares, SOL reached a trading volume of 6491468 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $9.25 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 2.24, with the Price to Sales ratio for SOL stock in the period of the last 12 months amounting to 12.29. The Price to Book ratio for the last quarter was 0.98, with the Price to Cash per share for the same quarter was set at 0.32.

How has SOL stock performed recently?

ReneSola Ltd [SOL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 82.59. With this latest performance, SOL shares gained by 244.39% in over the last four-week period, additionally plugging by 1556.35% over the last 6 months – not to mention a rise of 1446.16% 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 83.57, with the RSI for the last a single of trading hit 87.26, and the three-weeks RSI is set at 81.06 for ReneSola Ltd [SOL]. The present Moving Average for the last 50 days of trading for this stock 7.36, while it was recorded at 16.64 for the last single week of trading, and 3.07 for the last 200 days.

ReneSola Ltd [SOL]: Deeper insight into the 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 Quick Ratio of 1.00 and a Current Ratio set at 1.00.

Earnings analysis for ReneSola Ltd [SOL]

With the latest financial reports released by the company, ReneSola Ltd posted -0.23/share EPS, while the average EPS was predicted by analysts to be reported at 0.02/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -1,250.00%. 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%.

Insider trade positions for ReneSola Ltd [SOL]

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Positions in ReneSola Ltd stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 15 institutional holders increased their position in ReneSola Ltd [NYSE:SOL] by around 472,038 shares. Additionally, 3 investors decreased positions by around 26,684 shares, while 7 investors held positions by with 14,895,320 shares. The mentioned changes placed institutional holdings at 15,394,042 shares, according to the latest SEC report filing. SOL stock had 10 new institutional investments in for a total of 326,594 shares, while 2 institutional investors sold positions of 1,834 shares during the same period.

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