ReneSola Another Solar Power Stock with Potential

ReneSolaReneSola Ltd. (NYSE: SOL) is a growing energy company that specializes in solar wafers, the thin sheets of silicon material used in solar panels. The company has huge manufacturing capacity equivalent to 378 megawatts of energy devices per year. Based in China, stock is traded on the New York Stock Exchange and the company serves wholesale clients around the world.

ReneSola stock suffered during the volatility of 2018, but its momentum has increased this year. Stock is well below its one-year peak, which could allow for some significant gains as confidence returns to the market. ReneSola could also benefit from an improving trade relationship between the U.S. and China. Easing of trade tariffs could open a large market for ReneSola in the United States. Recent reports suggest that both nations are close to signing a new long-term trade agreement.

The company beat analyst expectations last month when it increased its profits per share. In the last full fiscal reporting year, the company increased sales revenue by 28.60%, a great sign for what could be a profitable 2019.

Key Data:

  • 1 Year Price Growth:      -29.88%
  • YTD Price Growth:          01%
  • 3 Month Price Growth:   74%

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