ReneSola Ltd. (SOL) Receives Consensus Rating of “Hold” from Brokerages

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

Analysts have set a one year consensus price target of $2.50 for the company and are forecasting that the company will post $0.01 earnings per share for the current quarter, according to Zacks. Zacks has also assigned ReneSola an industry rank of 221 out of 255 based on the ratings given to related companies.

Several equities research analysts have issued reports on SOL shares. Zacks Investment Research raised ReneSola from a “sell” rating to a “hold” rating in a report on Wednesday, September 26th. Roth Capital raised ReneSola from a “sell” rating to a “neutral” rating in a report on Thursday, June 21st. Finally, ValuEngine downgraded ReneSola from a “hold” rating to a “sell” rating in a report on Friday, August 3rd.

An institutional investor recently raised its position in ReneSola stock. Renaissance Technologies LLC lifted its position in shares of ReneSola Ltd. (NYSE:SOL) by 3.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 673,760 shares of the semiconductor company’s stock after buying an additional 23,200 shares during the quarter. Renaissance Technologies LLC owned about 1.77% of ReneSola worth $1,718,000 as of its most recent SEC filing. Institutional investors own 10.31% of the company’s stock.

ReneSola stock traded down $0.04 during mid-day trading on Friday, hitting $1.99. 767 shares of the company’s stock traded hands, compared to its average volume of 49,035. ReneSola has a fifty-two week low of $1.95 and a fifty-two week high of $3.79. The company has a market capitalization of $76.97 million, a price-to-earnings ratio of 15.42 and a beta of 1.15.

ReneSola (NYSE:SOL) last announced its quarterly earnings results on Thursday, September 6th. The semiconductor company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). The business had revenue of $27.81 million during the quarter, compared to analyst estimates of $25.50 million. As a group, sell-side analysts expect that ReneSola will post 0.21 EPS for the current year.

ReneSola Company Profile

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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