Trade Report: Today, ReneSola Ltd. (SOL) Issues Quarterly Earnings Results

Today, ReneSola Ltd. (SOL) Issues Quarterly  Earnings Results

ReneSola Ltd. (NYSE:SOL) announced its earnings results on Tuesday. The company reported ($0.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.03. The firm earned $1.87 billion during the quarter, compared to analysts’ expectations of $200.90 million. ReneSola had a net margin of 2.26% and a return on equity of 23.61%. The business’s revenue for the quarter was down 49.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 EPS.

Shares of ReneSola (NYSE:SOL) opened at 0.7572 on Tuesday. ReneSola has a 12-month low of $0.70 and a 12-month high of $1.95. The company’s 50-day moving average is $0.90 and its 200-day moving average is $1.12. The stock has a market cap of $76.48 million, a P/E ratio of 2.9011 and a beta of 2.88.

Several analysts have recently commented on the stock. TheStreet downgraded shares of ReneSola from a “hold” rating to a “sell” rating in a report on Wednesday, August 24th. Zacks Investment Research upgraded shares of ReneSola from a “sell” rating to a “hold” rating in a report on Tuesday, October 25th. Credit Suisse Group AG reiterated an “underperform” rating and issued a $1.00 target price on shares of ReneSola in a report on Monday, November 14th. Finally, Roth Capital downgraded shares of ReneSola from a “hold” rating to a “sell” rating in a report on Friday, August 5th.

A hedge fund recently raised its stake in ReneSola stock. KCG Holdings Inc. raised its position in shares of ReneSola Ltd. (NYSE:SOL) by 164.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 89,877 shares of the company’s stock after buying an additional 55,897 shares during the period. KCG Holdings Inc. owned about 0.09% of ReneSola worth $111,000 at the end of the most recent quarter. Institutional investors own 11.71% of the company’s stock.

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