ReneSola (SOL) Upgraded to Sell by ValuEngine

ValuEngine upgraded shares of ReneSola (NYSE:SOL) from a strong sell rating to a sell rating in a research note released on Thursday morning.

Separately, Zacks Investment Research raised shares of ReneSola from a hold rating to a buy rating and set a $1.50 price target for the company in a report on Saturday, January 5th.

SOL traded down $0.02 during trading hours on Thursday, reaching $1.44. 201 shares of the stock traded hands, compared to its average volume of 37,861. The firm has a market cap of $51.44 million, a price-to-earnings ratio of 11.23 and a beta of 1.62. ReneSola has a fifty-two week low of $1.15 and a fifty-two week high of $3.10. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.57.

ReneSola (NYSE:SOL) last released its quarterly earnings results on Monday, November 19th. The semiconductor company reported $0.01 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.01. The business had revenue of $18.77 million during the quarter, compared to analyst estimates of $19.00 million. ReneSola had a net margin of 5.09% and a return on equity of 7.57%. On average, analysts forecast that ReneSola will post 0.13 earnings per share for the current fiscal year.

An institutional investor recently raised its position in ReneSola stock. Renaissance Technologies LLC boosted its position in shares of ReneSola Ltd. (NYSE:SOL) by 3.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period. 11.17% of the stock is owned by hedge funds and other institutional investors.

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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