Revenue Update on ReneSola Ltd. (ADR)(NYSE:SOL)

ReneSola Ltd. (ADR)(NYSE:SOL) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-Market on Mar 28, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $232.074M. Analysts estimated a revenue of $218.420M. The revenues were 6.25% above the estimates. Earnings per share were $-1.1. The reported EPS was below estimates by -30.95%. Analysts had estimated an EPS of $-0.84.

ReneSola Ltd. (ADR) (SOL) made into the market gainers list on Fridays trading session with the shares advancing 0.83% or 0.02 points. Due to strong positive momentum, the stock ended at $2.42, which is also near the day’s high of $2.4506. The stock began the session at $2.4 and the volume stood at 20,146 shares. The 52-week high of the shares is $7.3 and the 52 week low is $2.15. The company has a current market capitalization of $49 M and it has 2,03,20,568 shares in outstanding.

ReneSola Ltd (ReneSola) is a holding company. The Company is a brand and technology provider as well as manufacturer of solar power products based in China. 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. The Company offers monocrystalline and multicrystalline wafers of various sizes and thicknesses. In wafer manufacturing it slices wafers with a thickness less than 180 microns. The Company’s subsidiaries include ReneSola Zhejiang Ltd. Sichuan ReneSola Silicon Material Co. Ltd. ReneSola Jiangsu Ltd Sichuan Ruiyu Photovoltaic Materials Co. Ltd. ReneSola Shanghai Ltd. and ReneSola Deutschland GmbH among others.

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