In last trading session, ReneSola Ltd (NYSE:SOL) saw 2,701,313 shares changing hands with its beta currently measuring 1.33. Company’s recent per share price level of $5.41 trading at $0.51 or 10.41% at ring of the bell on the day assigns it a market valuation of $279.49 Million. That closing price of SOL’s stock is at a discount of -1.11% from its 52-week high price of $5.47 and is indicating a premium of 84.29% from its 52-week low price of $0.85. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 2.15 Million shares which gives us an average trading volume of 1.95 Million if we extend that period to 3-months.
For ReneSola Ltd (SOL), analysts’ consensus is at an average recommendation of Overweight while assigning it a mean rating of 2.5. Splitting up the data highlights that, out of 2 analysts covering the stock, none rated the stock as a Sell while none recommended an Overweight rating for the stock. 1 suggested the stock as a Hold whereas 1 see the stock as a Buy. None analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0 in the current quarter.
ReneSola Ltd (NYSE:SOL) trade information
Upright in the green today for gaining 10.41%, in the last five days SOL remained trading in the green while hitting it’s week-highest on Thursday, Nov 19 when the stock touched $5.47-1 price level, adding 1.1% to its value on the day. ReneSola Ltd’s shares saw a change of 282.33% in year-to-date performance and have moved 38.72% in past 5-day. ReneSola Ltd (NYSE:SOL) showed a performance of 39.07% in past 30-days. Number of shares sold short was 317.36 Million shares which calculate 162.75 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $3.18 to the stock, which implies targetted prices is already lagging behind -41.22% to its current value. Analysts have been projecting $2.35 as a low price target for the stock while placing it at a high target of $4. It follows that stock’s current price would jump -26.06% in reaching the projected high whereas dropping to the targeted low would mean a loss of -56.56% for stock’s current value.
ReneSola Ltd (SOL) estimates and forecasts
Statistics highlight that ReneSola Ltd is scoring comparatively lower than the scores of other players of the relevant industry. The company added +468.22% of value to its shares in past 6 months, showing an annual growth rate of -102.86% while that of industry is 20. Apart from that, the company came lowering its revenue forecast for fiscal year 2020. The company is estimating its revenue growth to decline by -100% in the current quarter and calculating 108.7% increase in the next quarter. This year revenue growth is estimated to drop -24% from the last financial year’s standing.
2 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $9.9 Million for the same. And 2 analysts are in estimates of company making revenue of $33.31 Million in the next quarter that will end in December 01, 2020. Company posted $65.96 Million and $26.53 Million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to drop by -85% while estimating it to be 25.6% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -5.7% during past 5 years. In 2020, company’s earnings growth rate is likely to be around 100% while estimates for its earnings growth in next 5 years are of 15%
ReneSola Ltd (NYSE:SOL)’s Major holders
Insiders are in possession of 0% of company’s total shares while institution are holding 29.05% percent of that, with stock having share float percentage of 29.05%. Investors also watch the number of corporate investors in a company very closely, which is 25 institutions for ReneSola Ltd that are currently holding shares of the company. Shah Capital Management is the top institutional holder at SOL for having 14.07 Million shares of worth $29.12 Million. And as of September 29, 2020, it was holding 87.42% of the company’s outstanding shares.
The second largest institutional holder is Renaissance Technologies, LLC, which was holding about 888.6 Thousand shares on September 29, 2020. The number of shares represents firm’s hold over 5.52% of outstanding shares, having a total worth of $1.84 Million.