Insider Buying: ReneSola Ltd. (NYSE:SOL) CFO Acquires 679,160 Shares of Stock

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ReneSola Ltd. (NYSE:SOL) CFO Shah Capital Management purchased 679,160 shares of the firm’s stock in a transaction on Monday, March 23rd. The stock was bought at an average price of $1.03 per share, for a total transaction of $699,534.80.

Shah Capital Management also recently made the following trade(s):

  • On Thursday, March 19th, Shah Capital Management purchased 1,213,500 shares of ReneSola stock. The stock was bought at an average price of $1.05 per share, for a total transaction of $1,274,175.00.
  • On Tuesday, December 31st, Shah Capital Management purchased 30,625 shares of ReneSola stock. The stock was bought at an average price of $1.41 per share, for a total transaction of $43,181.25.

NYSE:SOL opened at $1.09 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $39.23 million, a price-to-earnings ratio of -6.06 and a beta of 1.88. The firm’s fifty day simple moving average is $1.28 and its 200 day simple moving average is $1.40. ReneSola Ltd. has a twelve month low of $0.85 and a twelve month high of $2.09.

ReneSola (NYSE:SOL) last posted its earnings results on Friday, March 13th. The semiconductor company reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.07. The business had revenue of $26.53 million for the quarter. ReneSola had a negative net margin of 7.41% and a positive return on equity of 8.29%. During the same quarter in the previous year, the firm posted ($0.11) EPS. On average, analysts predict that ReneSola Ltd. will post 0.08 earnings per share for the current year.

A number of equities analysts have weighed in on SOL shares. Zacks Investment Research lowered shares of ReneSola from a “hold” rating to a “sell” rating and set a $1.50 price target on the stock. in a report on Monday, January 6th. ValuEngine lowered shares of ReneSola from a “hold” rating to a “sell” rating in a report on Thursday, March 19th.

An institutional investor recently bought a new position in ReneSola stock. Virtu Financial LLC bought a new stake in shares of ReneSola Ltd. (NYSE:SOL) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 23,202 shares of the semiconductor company’s stock, valued at approximately $35,000. Virtu Financial LLC owned approximately 0.06% of ReneSola at the end of the most recent quarter. Institutional investors own 38.85% of the company’s stock.

ReneSola Company Profile

ReneSola Ltd, through its subsidiaries, develops, builds, operates, and sells solar power projects. It operates through three segments: solar power project development, EPC services, and electricity revenue generation. The company also develops community solar gardens; and sells projects rights. In addition, its engineering, and procurement and construction business includes engineering design, procurement of solar modules, balance-of-system and other components, and construction contracting and management services.

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