ReneSola SOL shares are trading higher on Thursday after HC Wainwright & Co initiated coverage on the stock with a Buy rating and announced a price target $4 per share.
ReneSola is a Chinese manufacturer of crystalline silicon raw material, ingots, and solar wafers. Solar wafers are used by manufacturers of photovoltaic cells for the generation of electricity from sunlight. It operates in three segments such as Wafer, Cell and module, and Solar power projects.
The Wafer segment involved the manufacture and sales of monocrystalline and multicrystalline solar wafers and processing services. The Cell and module segment manufactures and sells PV cells and modules.
ReneSola shares were up 32.38% at $2.06 at the time of publication on Thursday. The stock has a 52-week high of $2.98 and a 52-week low of 85 cents.
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