ReneSola Ltd. (NYSE:SOL) announced its quarterly earnings results on Tuesday. The semiconductor company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by $0.42. ReneSola had a negative return on equity of 2.40% and a negative net margin of 0.26%. The company had revenue of $232 million for the quarter, compared to analyst estimates of $218.42 million. During the same quarter last year, the company posted $0.15 earnings per share. The firm’s quarterly revenue was down 21.7% on a year-over-year basis.
Shares of ReneSola (NYSE:SOL) traded down 2.85% on Friday, reaching $2.39. 67,860 shares of the company’s stock traded hands. ReneSola has a 52-week low of $0.59 and a 52-week high of $3.38. The stock’s market cap is $48.22 million. The firm’s 50-day moving average is $2.46 and its 200-day moving average is $1.43.
SOL has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of ReneSola from a “hold” rating to a “buy” rating and set a $2.75 price target on the stock in a research report on Wednesday, March 22nd. Credit Suisse Group AG upgraded shares of ReneSola from an “underperform” rating to a “neutral” rating and decreased their price objective for the company from $5.00 to $4.00 in a research note on Wednesday, March 29th.
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.
