Boston, MA 05/28/2013 (wallstreetpr) – ReneSola Ltd. (ADR) (NYSE:SOL), based in People’s Republic of China and involved in the solar products had witnessed a decline in the prices of its American Depository Shares to the extent of 7.69 percent to close at $2.10 per ADS. The ADRs of ReneSola Ltd. (ADR) (NYSE:SOL) had been trading in the range of $2.07 to $2.47 per ADS during the day.
The solar products company, ReneSola Ltd. (ADR) (NYSE:SOL) is involved in the manufacturing and distribution of solar wafers and solar power products to the consumers in People’s Republic of China. The network of suppliers and customers for ReneSola Ltd. (ADR) (NYSE:SOL) is however at the global level which includes some global manufacturers of solar cells and modules.
The supplier of solar modules had recently announced that it had provided modules for use in community scale solar power projects in Vermont. The American Depository Shares of ReneSola Ltd. (ADR) (NYSE:SOL) had recorded 52 week low price level of $1.08 per ADS and 52 week high price level of $2.99 per ADS. The solar products manufacturer and distributer had witnessed heavy trading volume at 2.61 million ADS for the last trading session while the average trading volume for ReneSola Ltd. (ADR) (NYSE:SOL) is only 1.58 million ADS per day.
ReneSola Ltd. (ADR) (NYSE:SOL) presently holds 86.31 million American Depository Shares outstanding and the institutional ownership in the company is at 12 percent of the holdings. The market capitalization of ReneSola Ltd. (ADR) (NYSE:SOL) is $186.42 million.
