Top 5 Stock Picks of Himanshu Shah’s Shah Capital

2. ReneSola Ltd (NYSE:SOL)

Shah Capital’s Stake Value: $51 million

Percentage of Shah Capital’s 13F Portfolio: 15.7%

Number of Hedge Fund Holders: 4

ReneSola Ltd (NYSE:SOL) is an American company that sells its products and services all over the globe. These include developing solar power projects, solar gardens, and procurement of solar modules. ReneSola Ltd (NYSE:SOL) is headquartered in Stamford, Connecticut, the United States.

ReneSola Ltd (NYSE:SOL) is currently facing headwinds from a slowdown in China, with the company announcing in June this year that its self operated solar facilities in China would drop down to a high end estimate of 70 megawatts of electricity production. Northland set an $8 share price target for the company in September 2022, as it stated that the firm is expected to benefit heavily from the growing focus on solar energy in Europe and the United States.

Mr. Shah’s hedge fund owned 12 million ReneSola Ltd (NYSE:SOL) shares as part of its June quarter of 2022 investments. These let it hold a $51 million stake which represented 15.7% of the investment portfolio. During Q2 2022, four out of the 895 hedge funds polled by Insider Monkey had also invested in ReneSola Ltd (NYSE:SOL).

ReneSola Ltd (NYSE:SOL)’s largest investor in our database after Shah Capital is Paul Marshall and Ian Wace’s Marshall Wace LLP which owns 810,555 shares that are worth $3.8 million.