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.
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