ReneSola Ltd [NYSE: SOL] jumped around 1.25 points on Wednesday, while shares priced at $8.86 at the close of the session, up 16.43%. The company report on May 26, 2021 that ReneSola Power Announces First Quarter 2021 Financial Results.
— Revenue of $22.8 million, up 39% sequentially.
— Fourth consecutive quarter of profitability.
ReneSola Ltd stock is now -22.48% down from its year-to-date (YTD) trading value. SOL Stock saw the intraday high of $9.15 and lowest of $7.60 per share. The company’s 52-week high price is 35.77, which means current price is +31.61% above from all time high which was touched on 01/22/21.
Compared to the average trading volume of 2.40M shares, SOL reached a trading volume of 4096187 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 $13.50 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 2.30. 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.
Raymond James have made an estimate for ReneSola Ltd shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 09, 2021. While these analysts kept the previous recommendation, Imperial Capital raised their target price from $20 to $22. The new note on the price target was released on May 02, 2019, representing the official price target for ReneSola Ltd stock.
The Average True Range (ATR) for ReneSola Ltd is set at 0.85, with the Price to Sales ratio for SOL stock in the period of the last 12 months amounting to 8.05. The Price to Book ratio for the last quarter was 0.33, with the Price to Cash per share for the same quarter was set at 0.61.
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 11.73. With this latest performance, SOL shares dropped by -15.46% in over the last four-week period, additionally plugging by 66.85% over the last 6 months – not to mention a rise of 832.73% 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 52.24, with the RSI for the last a single of trading hit 60.93, and the three-weeks RSI is set at 47.59 for ReneSola Ltd [SOL]. The present Moving Average for the last 50 days of trading for this stock 9.66, while it was recorded at 7.97 for the last single week of trading, and 9.42 for the last 200 days.
ReneSola Ltd [SOL]: Deeper insight into the fundamentals
ReneSola Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.50.
Earnings analysis for ReneSola Ltd [SOL]
With the latest financial reports released by the company, ReneSola Ltd posted -0.09/share EPS, while the average EPS was predicted by analysts to be reported at -0.03/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -200.00%. 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]
47 institutional holders increased their position in ReneSola Ltd [NYSE:SOL] by around 3,416,999 shares. Additionally, 16 investors decreased positions by around 1,267,369 shares, while 4 investors held positions by with 19,704,408 shares. The mentioned changes placed institutional holdings at 24,388,776 shares, according to the latest SEC report filing. SOL stock had 32 new institutional investments in for a total of 1,171,487 shares, while 5 institutional investors sold positions of 461,245 shares during the same period.