ReneSola Ltd (NYSE:SOL) Relative Strength Index (RSI) is 38.62, with weekly volatility at 12.33% and ATR at 0.84. The SOL stock’s 52-week price range has touched low of $0.92 and a $35.77 high. Intraday shares traded counted 2.19 million, which was 10.9% higher than its 30-day average trading volume of 2.46M. Its shares traded lower over the last trading session, losing -6.79% on 05/24/21. The shares fell to a low of $7.32 before closing at $7.55. SOL’s previous close was $8.10 while the outstanding shares total 69.75M. The firm has a beta of 2.32, a 12-month trailing P/E ratio of 14.33, and a growth ratio of 0.96.
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 $503.89 million, 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 40.68 million on their books with 41.02 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 136.75 million total, with 88.31 million as their total liabilities.
SOL were able to record -18.28 million as free cash flow during the 08/25/2021 quarter of the year, this saw their quarterly net cash flow reduce by 16.03 million. In cash movements, the company had a total of -10.03 million as operating cash flow.
Potential earnings growth for ReneSola Ltd (SOL)
In order to determine the future investment potential for this stock, we will have to analyze key trends that affect it. During the 08/25/2021 quarter of the year, ReneSola Ltd recorded a total of 16.4 million in revenue. This figure implies that they witnessed a quarterly year/year change in their earnings with -61.74% coming in sequential stages and their sales for the 08/25/2021 quarter increasing by 40.56%.
What matters though is how it ends. When the core data for the company is broken down, then the stock sounds interesting. The company spent 14.42 million trying to sell their products during the last quarter, with the result yielding a gross income of 1.99 million. This allows shareholders to hold on to 69.75M with the recently reported earning now reading 0.02 cents per share. This is a figure that compared to analyst’s prediction for their 08/25/2021 (0.00 cents a share).
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 $13.50.