ValuEngine Upgrades ReneSola (SOL) to Sell
ValuEngine upgraded shares of ReneSola (NYSE:SOL) from a strong sell rating to a sell rating in a research note issued to investors on Thursday morning.
Separately, Zacks Investment Research raised shares of ReneSola from a hold rating to a buy rating and set a $1.50 target price on the stock in a research note on Saturday, January 5th.
Shares of NYSE:SOL opened at $1.25 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.67 and a current ratio of 1.67. ReneSola has a 12-month low of $1.15 and a 12-month high of $3.10. The firm has a market cap of $51.44 million, a price-to-earnings ratio of 9.62 and a beta of 1.62.
A hedge fund recently raised its stake in ReneSola stock. Renaissance Technologies LLC lifted its stake in ReneSola Ltd. (NYSE:SOL) by 3.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 Securities and Exchange Commission. Hedge funds and other institutional investors own 11.17% 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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