ReneSola Ltd (NYSE:SOL) went down by -4.50% from its latest closing price compared to the recent 1-year high of $10.00. The company’s stock price has collected 2.86% of gains in the last five trading sessions.
Is It Worth Investing in ReneSola Ltd (NYSE :SOL) Right Now?
ReneSola Ltd (NYSE:SOL) scored a price-to-earnings ratio above its average ratio, recording 77.83 x from its present earnings ratio. Plus, the 36-month beta value for SOL is at 2.09. Opinions of the stock are interesting as 3 analysts out of 3 who provided ratings for ReneSola Ltd declared the stock was a “buy,” while 0 rated the stock as “overweight,” 0 rated it as “hold,” and 0 as “sell.”
SOL currently public float of 66.46M and currently shorts hold a 1.88% ratio of that float. Today, the average trading volume of SOL was 820.99K shares.
SOL’s Market Performance
SOL stocks went up by 2.86% for the week, with a monthly jump of 4.24% and a quarterly performance of -31.73%, while its annual performance rate touched -40.36%. The volatility ratio for the week stands at 8.09% while the volatility levels for the past 30 days are set at 6.91% for ReneSola Ltd. The simple moving average for the period of the last 20 days is -1.57% for SOL stocks with a simple moving average of -23.76% for the last 200 days.
Analysts’ Opinion of SOL
Many brokerage firms have already submitted their reports for SOL stocks, with ROTH Capital repeating the rating for SOL by listing it as a “Buy.” The predicted price for SOL in the upcoming period, according to ROTH Capital is $10 based on the research report published on January 05th of the current year 2022.
Raymond James, on the other hand, stated in their research note that they expect to see SOL reach a price target of $12.50. The rating they have provided for SOL stocks is “Strong Buy” according to the report published on January 04th, 2022.
Raymond James gave a rating of “Outperform” to SOL, setting the target price at $14.50 in the report published on March 09th of the previous year.
SOL Trading at -2.76% from the 50-Day Moving Average
After a stumble in the market that brought SOL to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -53.30% of loss for the given period.
Volatility was left at 6.91%, however, over the last 30 days, the volatility rate increased by 8.09%, as shares surge +2.41% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -16.31% lower at present.
During the last 5 trading sessions, SOL rose by +2.86%, which changed the moving average for the period of 200-days by -36.11% in comparison to the 20-day moving average, which settled at $4.75. In addition, ReneSola Ltd saw -21.64% in overturn over a single year, with a tendency to cut further losses.
Reports are indicating that there were more than several insider trading activities at SOL starting from SHAH CAPITAL MANAGEMENT, who purchase 302,001 shares at the price of $4.40 back on Jun 14. After this action, SHAH CAPITAL MANAGEMENT now owns 12,012,604 shares of ReneSola Ltd, valued at $1,328,804 using the latest closing price.
SHAH CAPITAL MANAGEMENT, the CFO of ReneSola Ltd, purchase 106,499 shares at $4.40 during a trade that took place back on Jun 13, which means that SHAH CAPITAL MANAGEMENT is holding 11,710,603 shares at $468,596 based on the most recent closing price.
Stock Fundamentals for SOL
Current profitability levels for the company are sitting at:
- +17.73 for the present operating margin
- +39.45 for the gross margin
The net margin for ReneSola Ltd stands at +8.61. Equity return is now at value 1.10, with 0.80 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 9.11.