ReneSola (SOL) Receives Consensus Recommendation of “Hold” from Brokerages

ReneSola (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 investment analyst has rated the stock with a hold recommendation.

Brokerages have set a 1 year consensus price target of $2.80 for the company and are expecting that the company will post $0.01 EPS for the current quarter, according to Zacks. Zacks has also assigned ReneSola an industry rank of 96 out of 265 based on the ratings given to its competitors.

Several brokerages have recently weighed in on SOL. Zacks Investment Research lowered shares of ReneSola from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. ValuEngine upgraded shares of ReneSola from a “sell” rating to a “hold” rating in a research report on Monday, April 2nd.

Shares of ReneSola traded down $0.11, hitting $2.71, during trading on Friday, MarketBeat reports. 32,900 shares of the company’s stock traded hands, compared to its average volume of 49,308. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.17 and a current ratio of 1.17. ReneSola has a twelve month low of $2.12 and a twelve month high of $3.79. The firm has a market cap of $109.35 million, a P/E ratio of 20.85 and a beta of 2.12.

ReneSola (NYSE:SOL) last issued its earnings results on Wednesday, April 25th. The semiconductor company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. The business had revenue of $64.81 million for the quarter. equities analysts forecast that ReneSola will post 0.07 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in ReneSola stock. Renaissance Technologies LLC increased its holdings in shares of ReneSola (NYSE:SOL) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 654,960 shares of the semiconductor company’s stock after buying an additional 34,500 shares during the period. Renaissance Technologies LLC owned 1.72% of ReneSola worth $1,742,000 at the end of the most recent quarter. Institutional investors own 9.63% of the company’s stock.

About ReneSola

ReneSola Ltd, through its subsidiaries, manufactures and sells various solar power products in the People's Republic of China and internationally. The company operates through three segments: Wafer, Cell and Module, and Solar Power Projects. It provides virgin polysilicon, monocrystalline, and multicrystalline solar wafers; and photovoltaic cells.

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