ReneSola Ltd. (ADR) (SOL) is Downgraded by ROTH Capital to Sell

ReneSola Ltd. (ADR) (SOL) was Downgraded by ROTH Capital to ” Sell”. Earlier the firm had a rating of “Hold ” on the company shares. ROTH Capital advised their investors in a research report released on Aug 5, 2016.

On the company’s financial health, ReneSola Ltd. (ADR) reported $0.06 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on May 23, 2016. Analyst had a consensus of $-0.03. The company had revenue of $260.70 million for the quarter, compared to analysts expectations of $256.05 million. The company’s revenue was down -25.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.18 EPS.

ReneSola Ltd. (ADR) opened for trading at $1.21 and hit $1.2199 on the upside on Thursday, eventually ending the session at $1.21, with a gain of 0.83% or 0.01 points. The heightened volatility saw the trading volume jump to 1,01,839 shares. Company has a market cap of $123 M.

ReneSola Ltd (ReneSola) is a holding company. The Company is a brand and technology provider as well as manufacturer of solar power products based in China. The Company provides its customers with solar power products and processing services. It provides solar power products to a network of suppliers and customers which includes manufacturers of solar cells and modules and distributors installers and end users of solar modules. The Company manufactures solar-grade polysilicon solar wafers cells and modules. The Company offers monocrystalline and multicrystalline wafers of various sizes and thicknesses. In wafer manufacturing it slices wafers with a thickness less than 180 microns. The Company’s subsidiaries include ReneSola Zhejiang Ltd. Sichuan ReneSola Silicon Material Co. Ltd. ReneSola Jiangsu Ltd Sichuan Ruiyu Photovoltaic Materials Co. Ltd. ReneSola Shanghai Ltd. and ReneSola Deutschland GmbH among others.

ReneSola Ltd. (ADR)

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ReneSola Ltd. (ADR) - Is it time to Sell?

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