Streetbeat News

SOL

ReneSola Ltd

https://www.renesolapower.com

Industry

Solar

ReneSola Ltd, through its subsidiaries, develops, builds, operates, and sells solar power projects in the United States, Canada, Europe, and internationally. It operates through three segments: Solar Power Project Development, EPC Services, and Electricity Generation Revenue. The company also develops community solar gardens; and sells project rights. In addition, its engineering, procurement, and construction business provides engineering design, procurement of solar modules, balance-of-system components and other components, and construction contracting and management services. Further, the company generates and sells electricity. As of December 31, 2021, it operated approximately 100 solar power projects with an aggregate capacity of 180 megawatts. ReneSola Ltd was founded in 2005 and is headquartered in Stamford, Connecticut.

Open

2.17

Mkt cap

115M

Volume

134K

High

2.24

P/E Ratio

-7.03

52-wk high

3.00

Low

2.17

Div yield

N/A

52-wk low

1.41

During Wednesday's intraday session, several industrial stocks experienced significant movements. Wheels Up Experience (UP) saw a 19.5% increase, while ESGL Holdings (ESGL) rose by 16.99%. ClearSign Technologies (CLIR), Xos (XOS), Energy Focus (EFOI), and Energous (WATT) also saw gains. Conversely, Erayak Power Solution Gr (RAYA), Emeren Group (SOL), Freightos (CRGO), Mynaric (MYNA), Tigo Energy (TYGO), and Virgin Galactic Hldgs (SPCE) experienced declines, with SOL and CRGO reacting to their Q3 earnings reports released the previous day.

Portfolio Pulse from Benzinga Insights

November 22, 2023 | 5:31 pm

Emeren Group Ltd (NYSE:SOL) shares dropped over 9% after reporting Q3 FY23 results with revenue of $13.95 million, significantly missing the consensus estimate of $28.29 million. The decline of 42% Y/Y was attributed to delayed government approval for a solar project in Hungary. Despite this, gross profit increased to $5.7 million with a higher margin compared to the previous year. The company posted an adjusted EBITDA loss and a loss per ADS, both missing consensus estimates. Emeren's FY23 outlook anticipates lower revenue than expected but projects a net income and a gross margin within a specific range. SOL's stock price fell to $2.3807.

Portfolio Pulse from Lekha Gupta

November 22, 2023 | 3:21 pm

Roth MKM analyst Philip Shen has maintained a Buy rating on Emeren Group (NYSE:SOL) but has reduced the price target from $7 to $5 as reported on November 21, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 3:18 pm

Roth MKM analyst Philip Shen has maintained a Buy rating on Emeren Group (NYSE:SOL) but has reduced the price target from $7 to $5.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 3:17 pm

Northland Capital Markets analyst Donovan Schafer downgraded Emeren Group (NYSE:SOL) from Outperform to Market Perform and reduced the price target from $6 to $3.2.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 2:47 pm

In Wednesday's pre-market session, several industrial stocks showed significant movement. Earlyworks Co (ELWS) and Gaucho Group Holdings (VINO) were among the gainers, with ELWS rising 23.3% and VINO up 6.53%. Dragonfly Energy Hldgs (DFLI), Sidus Space (SIDU), Babcock & Wilcox (BW), and Falcons Beyond Global (FBYD) also saw gains. On the losing side, Emeren Group (SOL) and Deere (DE) experienced declines of 17.6% and 5.73%, respectively, following their earnings reports. Mesa Air Gr (MESA), Virgin Galactic Hldgs (SPCE), Safe & Green Holdings (SGBX), and C3is (CISS) also saw their stock prices drop.

Portfolio Pulse from Benzinga Insights

November 22, 2023 | 1:06 pm

Over the last 3 months, 5 Wall Street analysts have provided ratings on Emeren Group (NYSE:SOL), with 4 giving bullish and 1 somewhat bullish opinions. The average 12-month price target for SOL is $7.6, with a high of $10.00 and a low of $6.00. This target is a 24.75% decrease from the previous target of $10.10. Analysts' ratings are based on predictions of a company's future earnings and revenue, and are updated quarterly or after major company events.

Portfolio Pulse from Benzinga Insights

November 22, 2023 | 1:00 pm

HC Wainwright & Co. analyst Amit Dayal has maintained a Buy rating on Emeren Group (NYSE:SOL) but has reduced the price target from $10 to $7.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 12:29 pm

In Tuesday's after-market session, several industrial stocks saw movement. iSun, OceanPal, Aqua Metals, Asure Software, Guardforce AI Co, and Nuvve Holding experienced gains, while Emeren Group, Hyzon Motors, C3is, Laser Photonics, Mesa Air Group, and TPI Composites faced declines. Notably, Emeren Group's Q3 earnings were released.

Portfolio Pulse from Benzinga Insights

November 21, 2023 | 9:31 pm

Marijuana stocks experienced significant movement on Tuesday, with EVIO and Affinor Growers leading the gains. EVIO's shares soared by 9900.00%, while Affinor Growers' shares increased by 145.22%. Other notable gainers included Item 9 Labs, Indiva, and Body and Mind. Conversely, 1933 Industries led the losers with a 33.64% decline, followed by Rocky Mountain High and RIV Capital. The article also mentions several other companies in both the gainers and losers categories, reflecting a volatile day for cannabis-related stocks.

Portfolio Pulse from Benzinga Insights

November 21, 2023 | 9:30 pm

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