ReneSola Ltd. (SOL) Receives Average Rating of “Hold” from Analysts

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

Brokerages have set a 1 year consensus target price of $2.50 for the company and are anticipating that the company will post $0.01 EPS for the current quarter, according to Zacks. Zacks has also given ReneSola an industry rank of 241 out of 255 based on the ratings given to its competitors.

A number of research firms have recently commented on SOL. Zacks Investment Research upgraded ReneSola from a “sell” rating to a “hold” rating in a research report on Wednesday, May 30th. Roth Capital upgraded ReneSola from a “sell” rating to a “neutral” rating in a research report on Thursday, June 21st. Finally, ValuEngine cut ReneSola from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd.

An institutional investor recently raised its position in ReneSola stock. Renaissance Technologies LLC grew its holdings in ReneSola Ltd. (NYSE:SOL) by 3.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 673,760 shares of the semiconductor company’s stock after purchasing an additional 23,200 shares during the period. Renaissance Technologies LLC owned approximately 1.77% of ReneSola worth $1,718,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 10.31% of the company’s stock.

Shares of ReneSola stock traded up $0.01 on Thursday, reaching $2.16. The company’s stock had a trading volume of 15,508 shares, compared to its average volume of 25,566. The stock has a market capitalization of $81.92 million, a PE ratio of 16.62 and a beta of 1.16. ReneSola has a 52-week low of $2.12 and a 52-week 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.

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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