ReneSola Ltd. (NYSE:SOL) Given $1.30 Consensus Price Target by Brokerages

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

Brokers have set a 1 year consensus price target of $1.30 for the company and are forecasting that the company will post $0.02 EPS for the current quarter, according to Zacks. Zacks has also assigned ReneSola an industry rank of 41 out of 256 based on the ratings given to its competitors.

SOL has been the subject of several recent analyst reports. Imperial Capital restated an “outperform” rating and issued a $22.00 price target (up previously from $20.00) on shares of ReneSola in a research note on Thursday, May 2nd. ValuEngine upgraded ReneSola from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. Zacks Investment Research lowered ReneSola from a “hold” rating to a “sell” rating and set a $1.00 price objective for the company. in a research note on Monday. Finally, Roth Capital reiterated a “neutral” rating on shares of ReneSola in a research note on Thursday, June 27th.

Shares of ReneSola stock traded up $0.03 on Tuesday, hitting $0.96. The company’s stock had a trading volume of 244 shares, compared to its average volume of 38,391. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.81 and a current ratio of 0.81. ReneSola has a 1 year low of $0.86 and a 1 year high of $2.44. The firm has a fifty day moving average price of $1.12 and a 200-day moving average price of $1.40. The company has a market capitalization of $34.29 million, a price-to-earnings ratio of 96.00 and a beta of 1.94.

ReneSola (NYSE:SOL) last announced its quarterly earnings results on Thursday, June 27th. The semiconductor company reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.03). The company had revenue of $13.06 million during the quarter, compared to analysts’ expectations of $8.70 million. As a group, analysts forecast that ReneSola will post 0.06 EPS for the current year.

An institutional investor recently raised its position in ReneSola stock. Susquehanna International Group LLP lifted its stake in shares of ReneSola Ltd. (NYSE:SOL) by 21.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 190,398 shares of the semiconductor company’s stock after purchasing an additional 33,544 shares during the period. Susquehanna International Group LLP owned 0.50% of ReneSola worth $244,000 as of its most recent SEC filing. 12.69% of the stock is owned by institutional investors and hedge funds.

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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