ReneSola Ltd (NYSE:SOL) Relative Strength Index (RSI) is 42.57, with weekly volatility at 25.02% and ATR at 2.56. The SOL stock’s 52-week price range has touched low of $0.85 and a $35.77 high. Intraday shares traded counted 7.23 million, which was -47.55% lower than its 30-day average trading volume of 4.90M. Its shares traded higher over the last trading session, gaining 36.30% on 03/09/21. The shares fell to a low of $11.105 before closing at $13.63. SOL’s previous close was $10.00 while the outstanding shares total 69.58M. The firm has a beta of 2.55.
Investors have identified the Solar company ReneSola Ltd as an interesting stock but before investments are made there, an in-depth look at its trading activities will have to be conducted. The share is trading with a market value of around $1.03 billion, the company now has both obstacles and catalysts that affect them and they came from their mode of operations. With the company affected by events currently, it is a perfect time to analyze the numbers behind the firm in order to come up with a rather realistic picture of what this stock is.
ReneSola Ltd (SOL) Fundamentals that are to be considered.
When analyzing a stock, the first fundamental thing to take into account is the balance sheet. How healthy the balance sheet of a company is will determine if the company will be able to carry out all its financial and non-financial obligations and also keep the faith of its investors. For SOL, the company has in raw cash 16.39 million on their books with 36.49 million currently as liabilities. How the trend is over time is what investors should be concerned about. The company has a healthy balance sheet as their debt profile has been on an incline. In terms of their assets, the company currently has 72.53 million total, with 73.25 million as their total liabilities.
Having a look at the company’s valuation, the company is expected to record 0.31 total earnings per share during the next fiscal year. It is very important though to remember that the importance of trend far outweighs that of outlook. This analysis has been great and getting further updates on SOL sounds very interesting.
Is the stock of SOL attractive?
In related news, CFO, SHAH CAPITAL MANAGEMENT sold 26,000 shares of the company’s stock in a transaction that recorded on Dec 31. The sale was performed at an average price of 11.90, for a total value of 309,400. As the sale deal closes, the CFO, SHAH CAPITAL MANAGEMENT now sold 360,427 shares of the company’s stock, valued at 4,571,752. Also, CFO, SHAH CAPITAL MANAGEMENT sold 200,500 shares of the company’s stock in a deal that was recorded on Dec 29. The shares were price at an average price of 12.25 per share, with a total market value of 2,456,125. Following this completion of acquisition, the CFO, SHAH CAPITAL MANAGEMENT now holds 379,036 shares of the company’s stock, valued at 4,233,030.
1 out of 3 analysts covering the stock have rated it a Buy, while 1 have maintained a Hold recommendation on ReneSola Ltd. 0 analysts has assigned a Sell rating on the SOL stock. The 12-month mean consensus price target for the company’s shares has been set at $9.25.