ReneSola Stock Soars (SOL)

NEW YORK ( TheStreet) -- Shares of ReneSola (NYSE: SOL) have taken a tremendous swing upward. The stock is trading at $1.98 as of 11:21 a.m. ET, 20.7% above Wednesday's closing price of $1.64. Volume is at four million, 1.3 times the daily average of three million.

ReneSola has a market cap of $140.6 million and is part of the technology sector and electronics industry. Shares are down 81.2% year to date as of the close of trading on Wednesday.

ReneSola Ltd, together with its subsidiaries, engages in the manufacture and sale of solar wafers and solar power products. It offers virgin polysilicons, monocrystalline and multicrystalline solar wafers, and photovoltaic cells and modules. The company has a P/E ratio of 0.9, above the average electronics industry P/E ratio of 0.5 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates ReneSola as a hold. The company's strengths can be seen in multiple areas, such as its notable return on equity and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, generally poor debt management and poor profit margins. You can view the full ReneSola Ratings Report.

See our top % gaining stocks list for other stocks that are soaring today, or get investment ideas from our investment research center.

Interested in other stocks that are soaring? Get free SMS text alerts sent to you when the action happens by texting SOAR to 95370 or select from multiple alert options.

null

More from Markets

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Jim Cramer: The 10-Year Yield Could Go to 2.75%

Jim Cramer: The 10-Year Yield Could Go to 2.75%

Oil Slumps, Gas Spikes Ahead of Holiday Weekend; Assessing the Chipmakers--ICYMI

Oil Slumps, Gas Spikes Ahead of Holiday Weekend; Assessing the Chipmakers--ICYMI

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain

Dow and S&P 500 Decline, Energy Shares Fall as U.S. Crude Oil Slides 4%

Dow and S&P 500 Decline, Energy Shares Fall as U.S. Crude Oil Slides 4%