Zacks: ReneSola Ltd. (NYSE:SOL) Given $1.75 Average Target Price by Brokerages

Shares of ReneSola Ltd. (NYSE:SOL) have earned a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating.

Brokerages have set a twelve-month consensus price target of $1.75 for the company and are forecasting that the company will post ($0.11) EPS for the current quarter, according to Zacks. Zacks has also assigned ReneSola an industry rank of 70 out of 256 based on the ratings given to related companies.

A number of brokerages have weighed in on SOL. Zacks Investment Research downgraded ReneSola from a “hold” rating to a “sell” rating in a report on Wednesday, May 22nd. Imperial Capital reiterated an “outperform” rating and issued a $22.00 target price (up from $20.00) on shares of ReneSola in a report on Thursday, May 2nd. Finally, ValuEngine downgraded ReneSola from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st.

Shares of SOL stock opened at $1.25 on Wednesday. The company has a market capitalization of $49.53 million, a price-to-earnings ratio of 125.00 and a beta of 2.08. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.33. ReneSola has a fifty-two week low of $1.15 and a fifty-two week 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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