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Tuesday, March 21, 2023

Is ReneSola Ltd (NYSE: SOL) No Longer A Good Investment?

After Hours

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. After-hours trades for ReneSola Ltd (SOL) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$0.09, or -2.14%, to $4.11. The ReneSola Ltd has recorded 84,630 volume in the after hours trading session. Most recently, Yahoo Finance reported about the stock as it publicized that Emeren Issues Statement Regarding Silicon Valley Bank.

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Stocks Info

SOL belongs to the Technology sector of the NYSE while operating in the Solar industry. At the end of the last regular session, the stock closed at $4.20 and fluctuated between $4.2300 as its day high and $4.0300 as its day low. The current market capitalization of ReneSola Ltd is $284.68M. A total of 0.56 million shares were traded on the day, compared to an average of 487.02K shares.

Insider Activity

Investors also take into account insider trades in predicting how the stock will perform in the future. During the recent three months, SOL has seen 1 BUY and 0 SELL insider trades, representing the acquisition of 92,090 and the disposition of 0 shares. Over the last 12 months, there were 9 BUYs and 0 SELLs from insiders. Insiders purchased 1,712,900 shares during that period but sold 0.

In the most recent transaction, SHAH CAPITAL MANAGEMENT bought 92,090 shares of SOL for 4.11 per share on Dec 28. After the transaction, the CFO now owns 14,015,003 company shares. In a previous transaction on Dec 15, SHAH CAPITAL MANAGEMENT bought 112,809 shares at 4.40 per share. SOL shares that CFO owns now total 13,922,913.

Among the insiders who bought shares, SHAH CAPITAL MANAGEMENT acquired of 60,545 shares on Dec 14 at a per-share price of $4.41. This resulted in the CFO holding 13,810,104 shares of SOL after the transaction. In another insider transaction, SHAH CAPITAL MANAGEMENT bought 92,707 shares at $4.43 per share on Jun 29. Company shares held by the CFO now total 12,749,559.

While price targets are rarely accurate, they tend to exert some kind of influence from time to time and are often taken into account by investors. According to analysts who have offered 12-month price targets for SOL in the last 3 months, the mean price target is $10.17 with high estimates of $12.00 and low estimates of $9.00. In terms of 52-week highs and lows, SOL has a high of $7.50 and a low of $3.46.

As of this writing, SOL has an earnings estimate of $0.08 per share for the current quarter. EPS was calculated based on a consensus of 3 estimates, with a high estimate of $0.1 per share and a lower estimate of $0.07. The company reported an EPS of -$0.01 in the last quarter, which was -150.00% lower than expectations of $0.02.

Balance Sheet Annually/Quarterly

An organization’s balance sheet depicts the assets and liabilities it has, as well as the amount of equity invested. Investors can measure a company’s prospects by calculating its financial ratios using this information.

Analysts Opinion

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. Currently, 3 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for SOL is Buy with a score of 5.00. A total of 3 analysts rated the stock as Buy while 0 rated it as Overweight while 0 rated it as Hold. Among the other participants, 0 thought the stock was Underweight and 0 thought it should be Sold.

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