ReneSola Ltd. (SOL) Short Interest Update
ReneSola Ltd. (NYSE:SOL) was the recipient of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 484,808 shares, a decrease of 58.9% from the August 15th total of 1,180,953 shares. Based on an average trading volume of 461,019 shares, the short-interest ratio is currently 1.1 days.
ReneSola (NYSE:SOL) opened at 0.962 on Thursday. The stock has a 50 day moving average of $1.14 and a 200 day moving average of $1.28. ReneSola has a 12-month low of $0.91 and a 12-month high of $1.95. The company has a market cap of $97.16 million, a PE ratio of 3.686 and a beta of 3.26.
ReneSola (NYSE:SOL) last announced its quarterly earnings results on Wednesday, August 24th. The company reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The company earned $250 million during the quarter, compared to the consensus estimate of $284.39 million. ReneSola had a net margin of 2.26% and a return on equity of 23.61%. The firm’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.02) earnings per share. Equities analysts expect that ReneSola will post ($0.17) earnings per share for the current year.
SOL has been the topic of several recent research reports. Zacks Investment Research downgraded ReneSola from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. TheStreet downgraded ReneSola from a “hold” rating to a “sell” rating in a research report on Wednesday, August 24th. Credit Suisse Group AG set a $1.00 target price on ReneSola and gave the stock a “sell” rating in a research report on Thursday, August 18th. Finally, Roth Capital downgraded ReneSola from a “hold” rating to a “sell” rating in a research report on Friday, August 5th.
Several large investors have recently made changes to their positions in SOL. KCG Holdings Inc. increased its stake in ReneSola by 164.5% in the second quarter. KCG Holdings Inc. now owns 89,877 shares of the company’s stock worth $111,000 after buying an additional 55,897 shares during the period. Edmond DE Rothschild Holding S.A. bought a new stake in ReneSola during the first quarter worth approximately $178,000. Emerald Acquisition Ltd. bought a new stake in ReneSola during the second quarter worth approximately $197,000. Renaissance Technologies LLC increased its stake in ReneSola by 45.5% in the first quarter. Renaissance Technologies LLC now owns 1,641,500 shares of the company’s stock worth $2,364,000 after buying an additional 512,936 shares during the period. Finally, Acadian Asset Management LLC increased its stake in ReneSola by 5.2% in the second quarter. Acadian Asset Management LLC now owns 3,259,695 shares of the company’s stock worth $4,044,000 after buying an additional 162,171 shares during the period. 12.21% of the stock is owned by institutional investors.
ReneSola Ltd is a holding company. The Company is a brand and technology provider of energy-efficient products based in China. The Company’s segments include wafer sales, cell and module sales, and solar power projects. The wafer sales segment involves the manufacture and sales of monocrystalline and multicrystalline solar wafers and processing services.
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