Stocks in Focus: ReneSola Ltd. (ADR) (NYSE:SOL), Frontline Ltd. (NYSE:FRO)
Northern, WI 05/13/2013 (GDPInsider) – ReneSola Ltd. (ADR) (NYSE:SOL) started the day’s trading at 1.97, 0.03 above its previous close of 1.94. The stock is trading up 12.37% on volume of 1.445 million. The stock has a range of 1.97 and 2.20 and average volume is 991.82K.
Based in the People’s Republic of China, Renesola is one of the world’s largest makers of solar wafers and is a preeminent producer of solar power products. The company recently announced that it had been part of a project in Vermont (USA) which saw it supply modules used in three large-scale community solar projects. The modules will underpin the supply of a 150-kilowatt solar farm in the town of Williston, Vermont. This solar farm will act as the anchor supplier of power to a range of offices in the town, including a fire station, town offices and a local police station.
CEO of Renesola, Xianshou Li was pretty upbeat about the deal and was positive about its working relationship with installation partner, AllEarth Renewables. SOL is trading 28.07% above its 50-day simple moving average and 34.15% above its 20-day simple moving average.
Is SOL a solid investment at these levels? Get exclusive data and trends here.
Frontline Ltd. (NYSE:FRO) is trading up 7.87% on volume of 2.063 million. Average volume is 919.85K and the stock has a range of 1.96 and 2.20. FRO started the day’s trading at 1.99, a modest 0.02 above its previous close of 1.97 and the stock is trading 101.85% above its 52-week low of 1.08.
Frontline has been having a better than average run in the last 2 months and is recovering from its two major dips—one at the start of April and the other mid-April. The stock has climbed on news that the oil-tanker company is set to benefit from rising freight rates for vessels loading in the Persian Gulf.
The stock is trading 34.15% above its 20-day simple moving average and 28.07% above its 50-day simple moving average. 86.39 million shares are outstanding in FRO and insiders own 55.27% of the shares. Institutions own 12.00% of the shares and account for 4.54% of the transactions.
The stock is overbought presently with a RSI of 70.01.
Should Investors Trade FRO Now? Get exclusive insights and updates here.
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