Analysts Set $1.10 Target Price for ReneSola Ltd. (NYSE:SOL)
Shares of ReneSola Ltd. (NYSE:SOL) have earned a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.
Brokerages have set a one year consensus target price of $1.10 for the company, according to Zacks. Zacks has also given ReneSola an industry rank of 78 out of 254 based on the ratings given to its competitors.
Separately, ValuEngine downgraded shares of ReneSola from a “sell” rating to a “strong sell” rating in a report on Friday, May 1st.
ReneSola (NYSE:SOL) last issued its quarterly earnings data on Friday, May 29th. The semiconductor company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). ReneSola had a negative net margin of 6.17% and a positive return on equity of 10.69%. The business had revenue of $21.16 million for the quarter, compared to the consensus estimate of $32.00 million. During the same period in the previous year, the firm earned ($0.14) EPS. Equities research analysts expect that ReneSola will post -0.03 EPS for the current year.
In other news, CFO Shah Capital Management bought 679,160 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was bought at an average price of $1.03 per share, with a total value of $699,534.80.
An institutional investor recently bought a new position in ReneSola stock. KBC Group NV purchased a new position in ReneSola Ltd. (NYSE:SOL) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 27,305 shares of the semiconductor company’s stock, valued at approximately $39,000. KBC Group NV owned approximately 0.07% of ReneSola as of its most recent SEC filing. 39.24% of the stock is currently owned by institutional investors.
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.
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