ReneSola Coverage Initiated at Credit Suisse (SOL)
Shares of ReneSola (NYSE:SOL) traded up 5.02% during mid-day trading on Friday, hitting $3.14. The stock had a trading volume of 5,337,229 shares. ReneSola has a 52 week low of $1.95 and a 52 week high of $6.00. The stock has a 50-day moving average of $2.57 and a 200-day moving average of $3.25. The company’s market cap is $319.3 million.
ReneSola (NYSE:SOL) last announced its earnings results on Thursday, May 29th. The company reported ($0.14) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.08) by $0.06. The company had revenue of $415.00 million for the quarter, compared to the consensus estimate of $425.54 million. During the same quarter last year, the company posted ($0.45) earnings per share. ReneSola’s revenue was up 46.0% compared to the same quarter last year. On average, analysts predict that ReneSola will post $-0.04 earnings per share for the current fiscal year.
A number of other firms have also recently commented on SOL. Analysts at Roth Capital downgraded shares of ReneSola from a “buy” rating to a “neutral” rating in a research note on Friday, May 30th. Separately, analysts at Zacks upgraded shares of ReneSola from a “neutral” rating to an “outperform” rating in a research note on Thursday, May 8th. They now have a $3.25 price target on the stock.
ReneSola Ltd. (NYSE:SOL) is a manufacturer of solar wafers and producer of solar power products based in China.
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