Friday, March 5, 2021

For ReneSola Ltd [SOL], Analyst sees a rise to $22. What next?

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ReneSola Ltd [NYSE: SOL] price plunged by -21.94 percent to reach at -$7.36. The company report on January 25, 2021 that ReneSola Power Announces $250 Million Registered Direct Offering of ADSs.

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ReneSola Ltd (“ReneSola Power” or the “Company”) (NYSE: SOL), a leading fully integrated solar project developer, announced that it entered into securities purchase agreements with several institutional investors for the purchase and sale of 10,000,000 of American Depositary Shares (ADSs), each representing ten (10) ordinary shares, at a purchase price of $25.00 per ADS, in a registered direct offering. The registered direct offering is expected to close on or about January 27, 2021, subject to the satisfaction of customary closing conditions.


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H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

A sum of 20727771 shares traded at recent session while its average daily volume was at 3.84M shares. ReneSola Ltd shares reached a high of $28.00 and dropped to a low of $25.0301 until finishing in the latest session at $26.19.

The one-year SOL stock forecast points to a potential downside of -183.14. The average equity rating for SOL stock is currently 2.50, trading closer to a bullish pattern in the stock market.

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 $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 3.61, with the Price to Sales ratio for SOL stock in the period of the last 12 months amounting to 16.21. The Price to Book ratio for the last quarter was 1.23, with the Price to Cash per share for the same quarter was set at 0.30.

SOL Stock Performance Analysis:

ReneSola Ltd [SOL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 16.45. With this latest performance, SOL shares gained by 118.25% in over the last four-week period, additionally plugging by 1496.95% over the last 6 months – not to mention a rise of 1854.48% 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 62.85, with the RSI for the last a single of trading hit 59.24, and the three-weeks RSI is set at 64.69 for ReneSola Ltd [SOL]. The present Moving Average for the last 50 days of trading for this stock 11.76, while it was recorded at 27.96 for the last single week of trading, and 4.28 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 Quick Ratio of 1.00 and a Current Ratio set at 1.00.

SOL Stock EPS

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%.

ReneSola Ltd [SOL] Insider Position Details

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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 14 institutional holders increased their position in ReneSola Ltd [NYSE:SOL] by around 485,294 shares. Additionally, 3 investors decreased positions by around 26,684 shares, while 8 investors held positions by with 14,898,305 shares. The mentioned changes placed institutional holdings at 15,410,283 shares, according to the latest SEC report filing. SOL stock had 8 new institutional investments in for a total of 323,609 shares, while 2 institutional investors sold positions of 1,834 shares during the same period.

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