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

ReneSola Ltd. (ADR)(NYSE:SOL) announced the earnings results for Fiscal Year 2016 and Q3. The results came in during Pre-market on Nov 29, 2016. Company reported revenue of $187.03M. Analysts estimated a revenue of $200.90M. The revenues were $-13.87M or NaN% below the estimates. Earnings per share were $-0.20.

ReneSola Ltd. (ADR) (SOL) shares turned negative on Tuesdays trading session with the shares closing down -0.0182 points or -2.40% at a volume of 9,25,623. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $0.7498. The peak price level was also seen at $0.7498 while the days lowest was $0.65. Finally the shares closed at $0.739. The 52-week high of the shares is $1.95 while the 52-week low is $0.65. According to the latest information available, the market cap of the company is $75 M.

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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