By midafternoon, shares had tumbled 3% to $2.62.
Over the three months to March, the company reported a net loss of 14 cents a share, 6 cents wider than analysts surveyed by Thomson Reuters forecast. Revenue of $414.97 million fell short of expectations of $425.54 million.
TheStreet Ratings team rates RENESOLA LTD as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate RENESOLA LTD (SOL) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk, disappointing return on equity, weak operating cash flow and poor profit margins."
- You can view the full analysis from the report here: SOL Ratings Report