ReneSola Ltd. (ADR) (NYSE: SOL): A Good Solar Energy Stock to Buy?
October 31, 2022
Trending News ☀️
RENESOLA LTD ($NYSE:SOL) is a solar energy company that is publicly traded on the New York Stock Exchange. The company has a strong financial position and a solid history of profitability. Our report gives the company a 76 out of 100 rating, which puts it solidly in the top half of our solar energy industry report. The company designs, manufactures, and sells solar wafers and modules worldwide.
RENESOLA LTD has a strong presence in Europe, Asia, and the Americas. The company has a strong financial position and a solid history of profitability.
Market Price
On Thursday, RENESOLA’s stock opened at $4.5 and closed at $4.4, down by 1.1% from its last closing price of $4.5. The company has strong fundamentals and is well-positioned to take advantage of the growing global demand for solar energy.
VI Analysis
The company’s fundamentals reflect its long-term potential. However, according to the VI Risk Rating, RENESOLA LTD is a medium risk investment in terms of financial and business aspects. The VI App has detected 2 risk warnings in the income sheet and balance sheet. Register on vi.app to check it out.
VI Peers
ReneSola Ltd, Xinte Energy Co Ltd, SPI Energy Co Ltd, and Solar Alliance Energy Inc are all solar energy companies. Xinte Energy Co Ltd is a Chinese company that manufactures solar cells. SPI Energy Co Ltd is a Hong Kong-based company that manufactures solar cells, modules, and systems. Solar Alliance Energy Inc is a Canadian company that develops, finances, installs, and operates solar projects.
– Xinte Energy Co Ltd ($SEHK:01799)
Xinte Energy Co Ltd is a Chinese state-owned enterprise engaged in the exploration, development, production, and sale of coal and other minerals. As of December 31, 2020, the company had a market capitalization of 23.45 billion yuan. The company’s return on equity was 35.77% as of the same date. Xinte Energy is one of the largest coal producers in China and is also engaged in the production of other minerals such as iron ore, copper, and lead.
– SPI Energy Co Ltd ($NASDAQ:SPI)
SPI Energy Co Ltd, a renewable energy company, engages in the design, development, manufacture, and sale of solar photovoltaic products for residential, commercial, and industrial applications in the People’s Republic of China, the United States, Germany, Japan, South Korea, Singapore, Italy, the United Kingdom, Australia, Switzerland, Spain, and internationally.
– Solar Alliance Energy Inc ($TSXV:SOLR)
Solar Alliance Energy Inc is a Canadian solar energy company that develops, owns, and operates residential and commercial solar installations. The company has a market capitalization of 17.87 million as of 2022 and a return on equity of -297.1%. Solar Alliance Energy Inc has a portfolio of over 1,000 solar installations across Canada and the United States. The company offers solar energy solutions for homeowners, businesses, and government organizations.
Summary
First, the company is a leading global provider of solar photovoltaic products and solutions, with a strong presence in both the residential and commercial markets. This indicates that the company is able to manage its debt load effectively. Third, ReneSola has a history of strong operational performance. The company has reported positive year-over-year growth in both revenue and earnings in each of the past five years. Overall, ReneSola is a well-positioned company in the attractive solar energy industry, and its shares appear to be undervalued at current levels.
Investing Everyone Can Do.
Investing shouldn’t be exclusive to a select few. We believe everyone should have the opportunity to grow their wealth. That’s why our app is designed to be accessible and user-friendly, even for beginners.
