ReneSola Ltd. (SOL) Given Average Recommendation of “Hold” by Analysts
Shares of ReneSola Ltd. (NYSE:SOL) have been assigned a consensus broker rating score of 3.00 (Hold) from the one brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation.
Brokers have set a one year consensus price objective of $2.50 for the company and are forecasting that the company will post $0.01 earnings per share for the current quarter, according to Zacks. Zacks has also assigned ReneSola an industry rank of 241 out of 255 based on the ratings given to related companies.
A number of research analysts have commented on SOL shares. Zacks Investment Research upgraded ReneSola from a “sell” rating to a “hold” rating in a research note on Wednesday. Roth Capital upgraded ReneSola from a “sell” rating to a “neutral” rating in a research note on Thursday, June 21st. Finally, ValuEngine cut ReneSola from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd.
An institutional investor recently raised its position in ReneSola stock. Renaissance Technologies LLC increased its holdings in ReneSola Ltd. (NYSE:SOL) by 3.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 673,760 shares of the semiconductor company’s stock after acquiring an additional 23,200 shares during the quarter. Renaissance Technologies LLC owned approximately 1.77% of ReneSola worth $1,718,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 10.31% of the company’s stock.
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.
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