ReneSola, Ltd. (SOL) has pulled back sharply and trades at $4.35. The relative strength index is about 21, which indicates the stock is at extremely oversold levels. The 50-day moving average is $7.55 and the 200-day moving average is $9.74. SOL is estimated to earn about $1.70 per share in 2011. This puts the PE ratio at about 2.5, which is extremely undervalued for one of the leading low-cost solar companies. SOL is very cheap right now and has a strong balance sheet and good management. According to Yahoo Finance, SOL has $4.53 per share in cash and a book value of $7.11, so these shares are trading below cash levels and book value.