It is trading at $2.88 which is well above $2.42, the stock’s 50 day moving average and which is quite a bit higher than the 200 day moving average of $2.51. The 50 day moving average went up $0.46 or +19.08% and the 200 day average went up by +14.84%. Renesola Ltd. American Depsitar shares had a trading volume of 92K by the end of trading on Tuesday. Shares saw a steep decrease in trading volume of 19.15% under the normal average daily volume.
Investors are feeling more bullish on the company considering the fall in short interest. The company had a fall in short interest between September 29, 2017 and October 13, 2017 of -3.39%. Short shares fell 7,499 over that period. Days to cover increased from 3.0 to 5.0 and the short interest percentage is 0.01% as of October 13.
Here are a few substantial investment firms who have updated their positions. Shah Capital Management bolstered its position by buying 612,421 shares an increase of 28.4% as of 09/30/2017. Shah Capital Management controls 2,766,711 shares with a value of $6,446,000. The total value of its holdings increased 22.6%.
On October 16, 2017 the stock rating was changed to “Neutral” according to a Roth Capital report which is up from the previous “Hold” rating.
ReneSola Ltd, launched on March 17, 2006, is a holding company. The Company is a brand and technology provider of energy-efficient products based in China. The Business’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. The cell and module sales segment involves the manufacture and sales of solar cells and modules. The solar power projects segment involves sales of solar power projects and electricity generation revenue of certain project assets it owns and operates. The Company provides its customers with solar power products and processing services. It provides solar power products to a network of suppliers and customers, which includes manufacturers of solar cells and modules and distributors, installers and end users of solar modules. The Company manufactures solar-grade polysilicon, solar wafers, cells and modules..Advertisement