ReneSola (NYSE:SOL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.

According to Zacks, “ReneSola’s third-quarter 2017 revenues missed the Zacks Consensus Estimate but improved year over year. The company currently boasts a strong pipeline of 1.1 GW. ReneSola continues to benefit from a steady flow of contracts from both domestic and international customers. Moreover, to drive higher profitability and cash flow, the company plans to reduce manufacturing cost. To this end, it has recently decided to sell its manufacturing as well as LED distribution businesses. However, failing to shift to higher-margin markets and exposure to exchange rate fluctuations will likely hurt the company’s performance. Moreover, ReneSola’s share price has underperformed the broader industry over a year.”

Separately, Roth Capital raised ReneSola from a “sell” rating to a “neutral” rating and set a $3.00 price objective on the stock in a research note on Monday, October 16th.

ReneSola (SOL) traded down $0.05 during trading hours on Friday, reaching $2.86. The company’s stock had a trading volume of 124,400 shares, compared to its average volume of 66,052. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.42 and a current ratio of 0.51. ReneSola has a 1-year low of $2.12 and a 1-year high of $3.79.

ReneSola (NYSE:SOL) last released its quarterly earnings data on Wednesday, September 27th. The semiconductor company reported ($1.57) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.76) by ($0.81). ReneSola had a negative return on equity of 187.64% and a negative net margin of 13.84%. The firm had revenue of $151.63 million during the quarter, compared to the consensus estimate of $180.70 million. equities analysts expect that ReneSola will post -2.68 earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in ReneSola stock. Edmond DE Rothschild Holding S.A. acquired a new position in ReneSola Ltd. (NYSE:SOL) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 71,600 shares of the semiconductor company’s stock, valued at approximately $175,000. Edmond DE Rothschild Holding S.A. owned about 0.36% of ReneSola at the end of the most recent reporting period. 9.01% of the stock is owned by institutional investors and hedge funds.

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About ReneSola

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 solar power projects. The solar power projects segment involves sales of solar power projects and electricity generation revenue of certain project assets it owns and operates.

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