ReneSola Ltd. (SOL) Rating Reiterated by Credit Suisse Group AG
ReneSola Ltd. (NYSE:SOL)‘s stock had its “underperform” rating restated by investment analysts at Credit Suisse Group AG in a research report issued to clients and investors on Monday. They currently have a $1.00 price objective on the stock. Credit Suisse Group AG’s target price would indicate a potential upside of 24.92% from the company’s previous close.
Other equities analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of ReneSola from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. TheStreet downgraded shares of ReneSola from a “hold” rating to a “sell” rating in a research note on Wednesday, August 24th. Finally, Roth Capital downgraded shares of ReneSola from a “hold” rating to a “sell” rating in a research note on Friday, August 5th.
Shares of ReneSola (NYSE:SOL) traded up 0.687% during mid-day trading on Monday, reaching $0.806. The company’s stock had a trading volume of 29,755 shares. The company’s 50-day moving average is $0.97 and its 200 day moving average is $1.16. The firm has a market cap of $81.41 million, a price-to-earnings ratio of 3.088 and a beta of 2.88. ReneSola has a 12 month low of $0.70 and a 12 month high of $1.95.
ReneSola (NYSE:SOL) last issued its quarterly earnings data on Wednesday, August 24th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm earned $250 million during the quarter, compared to the consensus estimate of $284.39 million. ReneSola had a net margin of 2.26% and a return on equity of 23.61%. The company’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.02) earnings per share. On average, equities analysts anticipate that ReneSola will post ($0.17) EPS for the current year.
Large investors have recently made changes to their positions in the company. Acadian Asset Management LLC boosted its stake in shares of ReneSola by 5.2% in the second quarter. Acadian Asset Management LLC now owns 3,259,695 shares of the company’s stock worth $4,044,000 after buying an additional 162,171 shares during the period. Shah Capital Management boosted its stake in shares of ReneSola by 17.7% in the third quarter. Shah Capital Management now owns 5,777,962 shares of the company’s stock worth $5,835,000 after buying an additional 869,427 shares during the period. Emerald Acquisition Ltd. acquired a new stake in shares of ReneSola during the second quarter worth $197,000. KBC Group NV boosted its stake in shares of ReneSola by 22.2% in the third quarter. KBC Group NV now owns 220,219 shares of the company’s stock worth $222,000 after buying an additional 40,059 shares during the period. Finally, KCG Holdings Inc. boosted its stake in shares of ReneSola by 164.5% in the second quarter. KCG Holdings Inc. now owns 89,877 shares of the company’s stock worth $111,000 after buying an additional 55,897 shares during the period. Institutional investors and hedge funds own 11.72% of the company’s stock.
ReneSola Company Profile
ReneSola Ltd is a holding company. The Company is a brand and technology provider of energy-efficient products based in China. The Company’s segments include wafer sales, cell and module sales, and solar power projects. The wafer sales segment involves the manufacture and sales of monocrystalline and multicrystalline solar wafers and processing services.
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