Shares of ReneSola Ltd. (NYSE:SOL) have been given an average broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.
Brokers have set a 1-year consensus price objective of $1.75 for the company and are forecasting that the company will post ($0.05) earnings per share for the current quarter, according to Zacks. Zacks has also assigned ReneSola an industry rank of 18 out of 256 based on the ratings given to related companies.
Several research analysts have weighed in on SOL shares. Zacks Investment Research raised ReneSola from a “sell” rating to a “hold” rating in a research report on Wednesday, September 26th. ValuEngine lowered ReneSola from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 2nd.
ReneSola (NYSE:SOL) last posted its quarterly earnings data on Monday, November 19th. The semiconductor company reported $0.01 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.01. ReneSola had a return on equity of 7.57% and a net margin of 5.09%. The business had revenue of $18.77 million for the quarter, compared to analysts’ expectations of $19.00 million. As a group, research analysts predict that ReneSola will post 0.13 earnings per share for the current year.
A hedge fund recently raised its stake in ReneSola stock. Renaissance Technologies LLC raised its position in ReneSola Ltd. (NYSE:SOL) by 3.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period. Institutional investors own 11.17% of the company’s stock.
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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