ReneSola (SOL) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of ReneSola (NYSE:SOL) from a sell rating to a hold rating in a report published on Saturday, Zacks.com reports.

According to Zacks, “In fourth-quarter 2018, ReneSola reported narrower-than-expected loss, while revenues missed estimates. The company continues to benefit from a steady flow of contracts from both domestic and international customers. Coming to the domestic front, the company believes China rooftop solar market to be a significant space for expansion. ReneSola is focused on monetizing its project portfolio, while looking for opportunities to expand pipeline across key markets. However, solar industry trends and market volatility along with unfavorable changes in supply and demand for solar power products throughout the value chain may pose potential threats to the business. Also, a significant portion of the company’s revenues is denominated in foreign currencies, and hence it faces foreign currency exchange risk. Over the past year, ReneSola's share price has underperformed its industry.”

Separately, ValuEngine upgraded ReneSola from a strong sell rating to a sell rating in a research report on Thursday, January 10th.

Shares of SOL stock opened at $1.62 on Friday. The company has a market cap of $63.58 million, a P/E ratio of 12.46 and a beta of 2.08. ReneSola has a twelve month low of $1.15 and a twelve month high of $2.99.

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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