Roth Capital Upgrades ReneSola (SOL) to “Neutral”

Roth Capital upgraded shares of ReneSola (NYSE:SOL) from a sell rating to a neutral rating in a research note released on Thursday morning.

Several other research firms have also issued reports on SOL. Zacks Investment Research lowered shares of ReneSola from a hold rating to a sell rating in a research report on Friday, May 4th. ValuEngine raised shares of ReneSola from a sell rating to a hold rating in a research report on Monday, April 2nd.

ReneSola opened at $2.68 on Thursday, MarketBeat reports. ReneSola has a 12-month low of $2.12 and a 12-month high of $3.79. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market capitalization of $96.78 million, a P/E ratio of 20.62 and a beta of 2.05.

ReneSola (NYSE:SOL) last posted its quarterly earnings results on Wednesday, June 20th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.13. The business had revenue of $44.76 million during the quarter, compared to analyst estimates of $29.80 million. equities analysts predict that ReneSola will post 0.04 EPS for the current fiscal year.

An institutional investor recently raised its position in ReneSola stock. Renaissance Technologies LLC increased its holdings in ReneSola Ltd. (NYSE:SOL) by 5.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 654,960 shares of the semiconductor company’s stock after purchasing an additional 34,500 shares during the period. Renaissance Technologies LLC owned approximately 1.72% of ReneSola worth $1,742,000 at the end of the most recent quarter. 9.67% of the stock is owned by hedge funds and other institutional investors.

ReneSola Company Profile

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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