ReneSola (SOL) Stock Rating Upgraded by ValuEngine

ReneSola (NYSE:SOL) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Monday.

A number of other research firms have also recently weighed in on SOL. Roth Capital set a $3.00 price target on ReneSola and gave the company a “hold” rating in a research note on Thursday, December 21st. Zacks Investment Research cut ReneSola from a “buy” rating to a “hold” rating in a research note on Friday, December 22nd.

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ReneSola stock traded down $0.04 during midday trading on Monday, reaching $2.52. The company’s stock had a trading volume of 20,405 shares, compared to its average volume of 54,813. ReneSola has a fifty-two week low of $2.12 and a fifty-two week high of $3.79. The stock has a market cap of $97.50, a PE ratio of -1.47 and a beta of 2.17.

A hedge fund recently raised its stake in ReneSola stock. Renaissance Technologies LLC raised its holdings in ReneSola (NYSE:SOL) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 654,960 shares of the semiconductor company’s stock after buying an additional 34,500 shares during the period. Renaissance Technologies LLC owned about 1.72% of ReneSola worth $1,742,000 as of its most recent SEC filing. 9.41% of the stock is owned by hedge funds and other institutional investors.

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About ReneSola

ReneSola Ltd, through its subsidiaries, manufactures and sells various solar power products in the People's Republic of China and internationally. The company operates through three segments: Wafer, Cell and Module, and Solar Power Projects. It provides virgin polysilicon, monocrystalline, and multicrystalline solar wafers; and photovoltaic cells.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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