Stock Alert: ReneSola Touches New High Following Improved Q3 Revenue View

(RTTNews) - Shares of solar project developer and operator ReneSola Ltd (SOL) are surging more than 23% Friday morning, continuing the momentum from yesterday.

Thursday, ReneSola said it expects third-quarter revenue to be at the high end of the previously announced guidance range of $8 million to $10 million. Analysts polled by Thomson Reuters expect the company to report revenue of $9.9 million for the quarter.

Also, the company said it expects a profitable third quarter with at least $2 million in net profits.

ReneSola Power plans to release its third quarter financial results on Tuesday, December 1.

The stock touched a new high of $5 this morning and is currently trading at $4.79.