ReneSola (SOL) Rating Lowered to Sell at Zacks Investment Research

ReneSola (NYSE:SOL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday, Zacks.com reports.

According to Zacks, “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. Moreover, a significant portion of ReneSola’s revenues is denominated in foreign currencies. As the company expands its distribution network internationally, its exposure to fluctuations in currency exchange rates rises. Over the past year, ReneSola's share price has underperformed its industry. However, ReneSola continues to benefit from a steady flow of contracts from both domestic and international customers. It is also focused on monetizing its project portfolio, while looking for opportunities to expand pipeline across key markets.”

Separately, ValuEngine raised ReneSola from a “sell” rating to a “hold” rating in a research note on Monday, February 4th.

NYSE:SOL opened at $1.62 on Monday. The stock has a market capitalization of $61.34 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.

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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