Zacks: ReneSola Ltd. (NYSE:SOL) Given Consensus Rating of “Hold” by Analysts

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

Brokers have set a 1-year consensus target price of $1.30 for the company and are anticipating that the company will post $0.02 earnings per share for the current quarter, according to Zacks. Zacks has also given ReneSola an industry rank of 30 out of 256 based on the ratings given to related companies.

Several research firms have recently commented on SOL. Roth Capital reissued a “neutral” rating on shares of ReneSola in a research note on Thursday, June 27th. Zacks Investment Research lowered shares of ReneSola from a “hold” rating to a “sell” rating and set a $1.00 price objective for the company. in a research note on Monday, August 19th. Finally, ValuEngine raised shares of ReneSola from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd.

NYSE SOL opened at $1.04 on Tuesday. The firm has a 50 day simple moving average of $0.99 and a 200-day simple moving average of $1.33. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.81 and a current ratio of 0.81. ReneSola has a one year low of $0.86 and a one year high of $2.28. The firm has a market cap of $39.73 million, a price-to-earnings ratio of 104.00 and a beta of 1.91.

ReneSola (NYSE:SOL) last posted its quarterly earnings data on Thursday, June 27th. The semiconductor company reported ($0.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.03). The firm had revenue of $13.06 million for the quarter, compared to analyst estimates of $8.70 million. Equities analysts predict that ReneSola will post 0.06 EPS for the current fiscal year.

An institutional investor recently raised its position in ReneSola stock. Renaissance Technologies LLC grew its holdings in ReneSola Ltd. (NYSE:SOL) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 764,710 shares of the semiconductor company’s stock after purchasing an additional 11,500 shares during the quarter. Renaissance Technologies LLC owned 2.01% of ReneSola worth $979,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 12.72% of the company’s stock.

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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