ReneSola Ltd (NYSE:SOL) CFO Shah Capital Management purchased 6,000 shares of the business’s stock in a transaction dated Monday, September 20th. The shares were bought at an average price of $6.75 per share, with a total value of $40,500.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.
Shah Capital Management also recently made the following trade(s):
- On Thursday, September 16th, Shah Capital Management acquired 5,000 shares of ReneSola stock. The shares were acquired at an average cost of $6.85 per share, for a total transaction of $34,250.00.
- On Wednesday, September 8th, Shah Capital Management acquired 5,000 shares of ReneSola stock. The shares were acquired at an average cost of $6.80 per share, for a total transaction of $34,000.00.
NYSE SOL opened at $6.72 on Tuesday. The business’s 50-day moving average price is $7.09 and its 200 day moving average price is $8.76. ReneSola Ltd has a twelve month low of $1.95 and a twelve month high of $35.77. The company has a market capitalization of $468.71 million, a PE ratio of 33.60 and a beta of 2.28. The company has a current ratio of 9.80, a quick ratio of 9.80 and a debt-to-equity ratio of 0.08.
Several research firms have weighed in on SOL. Sidoti began coverage on ReneSola in a report on Wednesday, June 9th. They issued a “buy” rating on the stock. Roth Capital decreased their price objective on ReneSola from $8.20 to $7.70 and set a “neutral” rating on the stock in a research note on Wednesday, September 1st. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $12.40.
Several institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in shares of ReneSola by 31.7% in the 2nd quarter. Invesco Ltd. now owns 7,685,665 shares of the semiconductor company’s stock worth $69,939,000 after purchasing an additional 1,850,926 shares during the period. Millennium Management LLC grew its stake in ReneSola by 357.1% during the 2nd quarter. Millennium Management LLC now owns 1,067,484 shares of the semiconductor company’s stock valued at $9,714,000 after purchasing an additional 833,932 shares in the last quarter. JPMorgan Chase & Co. grew its stake in ReneSola by 65.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 536,227 shares of the semiconductor company’s stock valued at $4,879,000 after purchasing an additional 211,419 shares in the last quarter. First Trust Advisors LP grew its stake in ReneSola by 45.4% during the 2nd quarter. First Trust Advisors LP now owns 355,239 shares of the semiconductor company’s stock valued at $3,233,000 after purchasing an additional 110,970 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in ReneSola during the 2nd quarter valued at approximately $2,991,000. Institutional investors own 36.10% of the company’s stock.
ReneSola Ltd. engages in the manufacture of solar wafers and modules. It operates through the following segments: Wafer, Cell and Module, and Solar Power Projects. The Wafer segment includes manufacture and sales of monocrystalline and multicrystalline solar wafers and processing services. The Cell and Module segment involves in the manufacture and sale of PV cells and modules.
Featured Article: Reverse Stock Split
Receive News & Ratings for ReneSola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ReneSola and related companies with MarketBeat.com's FREE daily email newsletter.