ReneSola Ltd. Hits New 52-Week High at $6.00 (SOL)
ReneSola (NYSE:SOL) set a new 52-week high on Tuesday, American Banking and Market News reports. The company traded as high as $6.00 and last traded at $5.54, with a volume of 15,005,488 shares. The stock had previously closed at $5.13.
A number of research firms have recently commented on SOL. Analysts at Credit Suisse raised their price target on shares of ReneSola from $2.50 to $3.00 in a research note to investors on Wednesday, September 4th. They now have an “underperform” rating on the stock. Separately, analysts at Roth Capital raised their price target on shares of ReneSola from $2.00 to $5.20 in a research note to investors on Tuesday, September 3rd. They now have a “neutral” rating on the stock. Finally, analysts at Zacks reiterated an “outperform” rating on shares of ReneSola in a research note to investors on Monday, July 22nd. They now have a $4.50 price target on the stock.
ReneSola has a 52-week low of $1.08 and a 52-week high of $5.97. The stock has a 50-day moving average of $4.67 and a 200-day moving average of $3.00. The company’s market cap is $477.1 million.
ReneSola (NYSE:SOL) last issued its quarterly earnings data on Friday, August 30th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.06. The company had revenue of $377.40 million for the quarter, compared to the consensus estimate of $367.73 million. During the same quarter in the previous year, the company posted ($0.40) earnings per share. The company’s revenue for the quarter was up 62.0% on a year-over-year basis.
ReneSola Ltd. (NYSE:SOL) is a manufacturer of solar wafers and producer of solar power products based in China.
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