Zacks Investment Research Upgrades Real Goods Solar (RGSE) to “Buy”

Real Goods Solar (NASDAQ:RGSE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm currently has a $0.50 target price on the energy company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 17.65% from the company’s current price.

According to Zacks, “REAL GOODS SOLAR, Inc. is a leading residential solar energy integrator. Real Goods Solar offers turnkey solar energy services, and has thirty years of experience in residential solar energy, beginning with the sale in 1978 of the first solar photovoltaic, or PV, panels in the United States. “

Separately, Westpark Capital set a $2.00 target price on shares of Real Goods Solar and gave the company a “buy” rating in a research note on Friday, November 2nd.

Shares of NASDAQ RGSE traded up $0.06 during midday trading on Thursday, reaching $0.43. The stock had a trading volume of 13,493,320 shares, compared to its average volume of 6,562,604. Real Goods Solar has a 12-month low of $0.30 and a 12-month high of $1.95.

Real Goods Solar (NASDAQ:RGSE) last announced its quarterly earnings data on Wednesday, November 7th. The energy company reported ($0.49) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.17). The firm had revenue of $3.89 million during the quarter, compared to analysts’ expectations of $3.84 million. Real Goods Solar had a negative return on equity of 828.54% and a negative net margin of 239.87%. As a group, research analysts predict that Real Goods Solar will post -0.78 earnings per share for the current fiscal year.

In related news, Director Ian A. Bowles bought 100,000 shares of the business’s stock in a transaction that occurred on Friday, November 9th. The stock was bought at an average cost of $0.38 per share, with a total value of $38,000.00. Following the completion of the purchase, the director now owns 100,000 shares of the company’s stock, valued at approximately $38,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dennis J. Lacey bought 150,000 shares of the business’s stock in a transaction that occurred on Friday, November 9th. The shares were bought at an average cost of $0.37 per share, with a total value of $55,500.00. Following the completion of the purchase, the chief executive officer now directly owns 270,000 shares of the company’s stock, valued at approximately $99,900. The disclosure for this purchase can be found here. Insiders have purchased 317,800 shares of company stock valued at $116,474 over the last ninety days. 0.26% of the stock is currently owned by corporate insiders.

About Real Goods Solar

Real Goods Solar, Inc operates as a residential and small business commercial solar energy engineering, procurement, and construction company in the United States. The company's Residential segment installs solar energy systems for homeowners, including lease financing, as well as small business commercial services in the continental United States.

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