ReneSola (NYSE:SOL) Stock Rating Lowered by ValuEngine

ReneSola (NYSE:SOL) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, ValuEngine reports.

Separately, Zacks Investment Research lowered ReneSola from a “buy” rating to a “hold” rating and set a $1.75 price objective for the company. in a research note on Tuesday, November 19th.

Shares of NYSE SOL opened at $1.60 on Wednesday. The firm’s 50-day moving average price is $1.50 and its 200-day moving average price is $1.30. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $55.33 million, a price-to-earnings ratio of 160.00 and a beta of 2.16. ReneSola has a 12-month low of $0.86 and a 12-month high of $2.11.

ReneSola (NYSE:SOL) last announced its quarterly earnings results on Monday, November 25th. The semiconductor company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.01. The business had revenue of $65.96 million during the quarter. During the same period last year, the firm posted $0.04 earnings per share. On average, equities analysts predict that ReneSola will post 0.15 EPS for the current fiscal year.

In other news, insider Barlow Todd acquired 21,510 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was bought at an average cost of $22.74 per share, with a total value of $489,158.91.

Several large investors have recently made changes to their positions in SOL. Virtu Financial LLC bought a new position in shares of ReneSola during the third quarter valued at approximately $35,000. Susquehanna International Group LLP lifted its stake in shares of ReneSola by 21.4% during the 2nd quarter. Susquehanna International Group LLP now owns 190,398 shares of the semiconductor company’s stock worth $244,000 after acquiring an additional 33,544 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in ReneSola by 1.5% during the 2nd quarter. Renaissance Technologies LLC now owns 764,710 shares of the semiconductor company’s stock valued at $979,000 after acquiring an additional 11,500 shares during the period. Institutional investors and hedge funds own 12.41% of the company’s stock.

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.

See Also: Cost of Equity For A Business, Investors

To view ValuEngine’s full report, visit ValuEngine’s official website.

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