ReneSola (NYSE:SOL) Upgraded at StockNews.com

StockNews.com upgraded shares of ReneSola (NYSE:SOLGet Rating) to a sell rating in a report issued on Wednesday morning.

A number of other analysts also recently issued reports on SOL. Zacks Investment Research raised shares of ReneSola from a hold rating to a buy rating and set a $7.00 price objective for the company in a report on Wednesday, March 2nd. Raymond James raised shares of ReneSola from an outperform rating to a strong-buy rating and set a $12.50 price target for the company in a research note on Tuesday, January 4th. HC Wainwright lowered their price target on shares of ReneSola from $15.00 to $12.00 and set a buy rating for the company in a research note on Thursday, March 24th. Finally, Roth Capital raised shares of ReneSola from a neutral rating to a buy rating and boosted their price target for the stock from $7.70 to $10.00 in a research note on Wednesday, January 5th. One analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Buy and a consensus target price of $10.38.

NYSE SOL opened at $4.92 on Wednesday. ReneSola has a 52-week low of $4.53 and a 52-week high of $10.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 9.66 and a current ratio of 9.39. The company has a market capitalization of $343.16 million, a P/E ratio of 49.20 and a beta of 2.28. The company has a fifty day moving average of $5.94 and a 200-day moving average of $6.42.

ReneSola (NYSE:SOLGet Rating) last posted its quarterly earnings data on Wednesday, March 23rd. The semiconductor company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.09). ReneSola had a return on equity of 2.67% and a net margin of 8.61%. During the same quarter in the prior year, the company earned $0.18 EPS. As a group, analysts forecast that ReneSola will post 0.11 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Deutsche Bank AG lifted its holdings in ReneSola by 143.2% in the 3rd quarter. Deutsche Bank AG now owns 9,000 shares of the semiconductor company’s stock worth $59,000 after buying an additional 5,300 shares during the period. Goldman Sachs Group Inc. purchased a new stake in ReneSola in the third quarter worth $96,000. Cetera Advisors LLC boosted its holdings in ReneSola by 9.1% in the third quarter. Cetera Advisors LLC now owns 15,773 shares of the semiconductor company’s stock valued at $104,000 after acquiring an additional 1,310 shares in the last quarter. Raymond James & Associates purchased a new position in ReneSola during the 3rd quarter valued at $108,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in ReneSola in the 3rd quarter worth $114,000. 35.33% of the stock is owned by institutional investors and hedge funds.

About ReneSola (Get Rating)

ReneSola Ltd, through its subsidiaries, develops, builds, operates, and sells solar power projects in the United States and Europe. It operates through three segments: Solar Power Project Development, EPC Services, and Electricity Generation Revenue. The company also develops community solar gardens; and sells projects rights.

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