ReneSola Ltd [SOL] moved down -10.07: Why It’s Important

ReneSola Ltd [NYSE: SOL] closed the trading session at $20.98 on 02/16/21. The day’s price range saw the stock hit a low of $20.6222, while the highest price level was $23.08. The company report on January 28, 2021 that ReneSola Power Announces Closing of $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 has closed its previously announced registered direct offering of 10,000,000 of American Depositary Shares (ADSs), each representing ten (10) ordinary shares, at a purchase price of $25.00 per ADS.

H.C. Wainwright & Co. acted as the exclusive placement agent for the offering. Roth Capital Partners and Raymond James acted as financial advisors in the offering.

The stocks have a year to date performance of 83.55 percent and weekly performance of -8.30 percent. The stock has been moved at 1171.52 percent over the last six months. The stock has performed -16.94 percent around the most recent 30 days and changed 437.95 percent over the most recent 3-months.

If compared to the average trading volume of 4.98M shares, SOL reached to a volume of 3313115 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 3.29, with the Price to Sales ratio for SOL stock in the period of the last 12 months amounting to 17.64. The Price to Book ratio for the last quarter was 0.99, with the Price to Cash per share for the same quarter was set at 0.22.

SOL stock trade performance evaluation

ReneSola Ltd [SOL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.30. With this latest performance, SOL shares dropped by -16.94% in over the last four-week period, additionally plugging by 1171.52% over the last 6 months – not to mention a rise of 1298.67% 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 47.83, with the RSI for the last a single of trading hit 40.75, and the three-weeks RSI is set at 51.78 for ReneSola Ltd [SOL]. The present Moving Average for the last 50 days of trading for this stock 17.12, while it was recorded at 23.29 for the last single week of trading, and 5.96 for the last 200 days.

ReneSola Ltd [SOL]: An insightful look at the core 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 per share (EPS) analysis for ReneSola Ltd [SOL] stock

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 Ownership positions

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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 23 institutional holders increased their position in ReneSola Ltd [NYSE:SOL] by around 9,935,299 shares. Additionally, 10 investors decreased positions by around 3,167,906 shares, while 6 investors held positions by with 9,058,230 shares. The mentioned changes placed institutional holdings at 22,161,435 shares, according to the latest SEC report filing. SOL stock had 16 new institutional investments in for a total of 6,763,477 shares, while 5 institutional investors sold positions of 167,905 shares during the same period.

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