Analysts Set $1.00 Target Price for ReneSola Ltd. (SOL)
ReneSola Ltd. (NYSE:SOL) has received a consensus broker rating score of 5.00 (Strong Sell) from the one analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong sell rating. ReneSola’s rating score has declined by 66.7% from three months ago as a result of a number of analysts’ ratings changes.
Analysts have set a twelve-month consensus price objective of $1.00 for the company and are anticipating that the company will post ($0.16) earnings per share for the current quarter, according to Zacks. Zacks has also given ReneSola an industry rank of 106 out of 265 based on the ratings given to its competitors.
Several equities analysts have recently weighed in on SOL shares. Roth Capital lowered ReneSola from a “hold” rating to a “sell” rating in a research note on Friday, August 5th. TheStreet lowered ReneSola from a “hold” rating to a “sell” rating in a research report on Wednesday, August 24th. Zacks Investment Research lowered ReneSola from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Finally, Credit Suisse Group AG set a $1.00 price target on ReneSola and gave the stock a “sell” rating in a research report on Thursday, August 18th.
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A number of large investors have recently bought and sold shares of SOL. Acadian Asset Management LLC increased its stake in ReneSola by 5.2% in the second quarter. Acadian Asset Management LLC now owns 3,259,695 shares of the company’s stock valued at $4,044,000 after buying an additional 162,171 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in ReneSola during the first quarter valued at about $178,000. Shah Capital Management increased its stake in ReneSola by 17.7% in the third quarter. Shah Capital Management now owns 5,777,962 shares of the company’s stock valued at $5,835,000 after buying an additional 869,427 shares in the last quarter. KCG Holdings Inc. increased its stake in ReneSola by 164.5% in the second quarter. KCG Holdings Inc. now owns 89,877 shares of the company’s stock valued at $111,000 after buying an additional 55,897 shares in the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in ReneSola during the second quarter valued at about $197,000. Institutional investors own 12.21% of the company’s stock.
ReneSola (NYSE:SOL) traded down 2.1900% during midday trading on Monday, hitting $0.9781. The stock had a trading volume of 34,020 shares. The company has a market cap of $98.79 million, a price-to-earnings ratio of 3.7475 and a beta of 2.95. ReneSola has a 12-month low of $0.95 and a 12-month high of $1.95. The company has a 50-day moving average price of $1.05 and a 200-day moving average price of $1.23.
ReneSola (NYSE:SOL) last released its quarterly earnings data on Wednesday, August 24th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The business had revenue of $250 million for the quarter, compared to analyst estimates of $284.39 million. ReneSola had a return on equity of 23.61% and a net margin of 2.26%. The company’s revenue was down 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.02) EPS. Equities analysts anticipate that ReneSola will post ($0.17) EPS for the current year.
ReneSola Ltd is a holding company. The Company is a brand and technology provider of energy-efficient products based in China. The Company’s segments include wafer sales, cell and module sales, and solar power projects. The wafer sales segment involves the manufacture and sales of monocrystalline and multicrystalline solar wafers and processing services.
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