ReneSola Ltd. (NYSE:SOL) Given Average 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 brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating.

Brokerages have set a one year consensus target price of $1.75 for the company and are predicting that the company will post ($0.11) earnings per share for the current quarter, according to Zacks. Zacks has also given ReneSola an industry rank of 93 out of 256 based on the ratings given to its competitors.

Several research analysts have weighed in on the company. Zacks Investment Research lowered ReneSola from a “hold” rating to a “sell” rating in a research report on Wednesday, May 22nd. Imperial Capital reaffirmed an “outperform” rating and issued a $22.00 target price (up from $20.00) on shares of ReneSola in a research report on Thursday, May 2nd. Finally, ValuEngine lowered ReneSola from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st.

An institutional investor recently raised its position in ReneSola stock. Renaissance Technologies LLC grew its position in ReneSola Ltd. (NYSE:SOL) by 3.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 753,210 shares of the semiconductor company’s stock after purchasing an additional 28,160 shares during the period. Renaissance Technologies LLC owned about 1.98% of ReneSola worth $1,274,000 at the end of the most recent quarter. 12.77% of the stock is currently owned by institutional investors.

Shares of ReneSola stock remained flat at $$1.25 during trading on Wednesday. The stock had a trading volume of 15,275 shares, compared to its average volume of 28,389. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $48.53 million, a price-to-earnings ratio of 125.00 and a beta of 2.08. ReneSola has a twelve month low of $1.15 and a twelve month high of $2.87.

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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