Why ReneSola's Stock Popped 20.2% on Tuesday
Shares of solar energy stock Renesola (NYSE: SOL) jumped as much as 20.2% in trading on Wednesday after reporting first-quarter 2021 financial results. The stock rose throughout the day and is up 18.7% at 3:05 p.m. EDT.
Quarterly revenue was $22.8 million, and net income was $774,000, or $0.01 per share. Analysts were only expecting $19.0 million in revenue and a loss of $0.02 per share, so results easily beat those expectations. Gross margin was an impressive 29.9% in the quarter.
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Source Fool.com
