Stocks in Focus: ReneSola Ltd. (ADR) (NYSE:SOL), Frontline Ltd. (NYSE:FRO)

Posted by Chris Bell May 13, 2013 0 Comment 2123 views


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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About Chris Bell

Chris Bell is an investing reporter for GDP Insider. Chris covers financial markets and Wall Street, concentrating on developments affecting individual investors and their portfolios. Chris is also over consumer reporter and covers a wide variety of issues ranging from housing to immigration to urban poverty. Chris graduated from the University of Scranton with a degree in Communication and Philosophy. Chris's diligent investigations earned him the honor of being named "Best Reporter" once by the Headliners Foundation of Texas and once by the Houston Press Club.

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