Zacks: ReneSola (SOL) Given Average Rating of “Hold” by Brokerages

ReneSola (NYSE:SOL) has received a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation.

Brokerages have set a twelve-month consensus target price of $2.80 for the company and are predicting that the company will post $0.03 EPS for the current quarter, according to Zacks. Zacks has also assigned ReneSola an industry rank of 117 out of 265 based on the ratings given to its competitors.

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Several research firms have commented on SOL. ValuEngine raised shares of ReneSola from a “sell” rating to a “hold” rating in a report on Monday, April 2nd. Zacks Investment Research lowered shares of ReneSola from a “buy” rating to a “hold” rating in a report on Friday, December 22nd. Finally, Roth Capital set a $3.00 target price on shares of ReneSola and gave the company a “hold” rating in a report on Thursday, December 21st.

An institutional investor recently raised its position in ReneSola stock. Renaissance Technologies LLC raised its position in ReneSola (NYSE:SOL) by 5.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 654,960 shares of the semiconductor company’s stock after buying an additional 34,500 shares during the quarter. Renaissance Technologies LLC owned about 1.72% of ReneSola worth $1,742,000 at the end of the most recent quarter. 9.41% of the stock is owned by institutional investors.

ReneSola stock traded up $0.14 during midday trading on Tuesday, hitting $2.48. The company’s stock had a trading volume of 21,064 shares, compared to its average volume of 53,322. ReneSola has a 1-year low of $2.12 and a 1-year high of $3.79.

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ReneSola Company Profile

ReneSola Ltd, through its subsidiaries, manufactures and sells various solar power products in the People's Republic of China and internationally. The company operates through three segments: Wafer, Cell and Module, and Solar Power Projects. It provides virgin polysilicon, monocrystalline, and multicrystalline solar wafers; and photovoltaic cells.

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