RTTNews | Dec 8, 2021 10:55AM EST

10:55 Wednesday, December 8, 2021 (RTTNews.com) - Connecticut-based solar power generator ReneSola Ltd (SOL), is trading 5% lower on Wednesday after reporting a lower income in the third quarter. The earnings also failed to meet Street estimates.

The company reported a net income of $0.7 million or $0.01 per share, compared to $2.1 million or $0.04 per share last year. Excluding one-time articles, net income attributed to ReneSola Power was $1.7 million or $0.02 per share, from $2.5 million or $0.05 per share in the third quarter of 2020.

On average, 3 analysts polled by Thomson Reuters estimated the earnings to be $0.04 for the quarter.

The share is currently trading at $5.55, down $0.29 or 4.97% since the previous drop at $5.84. The stock opened at $5.07 in the morning. In the 52-week period, the shares have ranged between $4.84 and $35.77 per share.

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