Zacks: ReneSola Ltd. (SOL) Receives Consensus Recommendation of “Hold” from Analysts

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ReneSola Ltd. (NYSE:SOL) has been given an average broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation.

Brokerages have set a 1 year consensus price objective of $2.50 for the company and are expecting that the company will post $0.01 EPS for the current quarter, according to Zacks. Zacks has also given ReneSola an industry rank of 218 out of 255 based on the ratings given to related companies.

SOL has been the topic of several research reports. Zacks Investment Research downgraded shares of ReneSola from a “buy” rating to a “hold” rating in a report on Tuesday, August 21st. ValuEngine downgraded shares of ReneSola from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 2nd. Finally, Roth Capital upgraded shares of ReneSola from a “sell” rating to a “neutral” rating in a report on Thursday, June 21st.

A hedge fund recently raised its stake in ReneSola stock. Renaissance Technologies LLC raised its stake in shares of ReneSola Ltd. (NYSE:SOL) by 3.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 673,760 shares of the semiconductor company’s stock after purchasing an additional 23,200 shares during the quarter. Renaissance Technologies LLC owned 1.77% of ReneSola worth $1,718,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 10.31% of the company’s stock.

ReneSola stock remained flat at $$2.00 on Friday. 26,724 shares of the company’s stock were exchanged, compared to its average volume of 48,697. The firm has a market cap of $76.58 million, a price-to-earnings ratio of 15.38 and a beta of 1.15. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.67 and a current ratio of 1.67. ReneSola has a 52-week low of $1.95 and a 52-week high of $3.79.

ReneSola (NYSE:SOL) last released its earnings results on Thursday, September 6th. The semiconductor company reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.05). The firm had revenue of $27.81 million for the quarter, compared to analyst estimates of $25.50 million. ReneSola had a return on equity of 13.24% and a net margin of 5.99%. Analysts forecast that ReneSola will post 0.21 earnings per share for the current year.

About ReneSola

ReneSola Ltd, through its subsidiaries, develops, builds, operates, and sells solar power projects. It operates through three segments: solar power project development, EPC services, and electricity revenue generation. The company also develops community solar gardens; and sells projects rights. In addition, its engineering, and procurement and construction business includes engineering design, procurement of solar modules, balance-of-system and other components, and construction contracting and management services.

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