Company Update (NYSE:SOL): ReneSola Ltd. (ADR) Announces Results of Annual General Meeting

ReneSola Ltd. (ADR) (NYSE:SOL), a leading brand and technology provider of energy-efficient products, today announced that all shareholder resolutions proposed at the Company’s 2015 annual general meeting of shareholders held today were duly passed. Specifically, the shareholders passed resolutions approving:

  1. the consolidated financial statements of the Company for the year ended December 31, 2014, together with the reports of the auditors thereon;
  2. the re-election of Mr. Martin Bloom as a director of the Company, who is retiring by rotation and offering himself for re-election in accordance with the Company’s current articles of association; and
  3. the re-appointment of Deloitte Touche Tohmatsu Certified Public Accountants LLP as auditors of the Company until the conclusion of the next general meeting of the shareholders of the Company. (Original Source)

Shares of Renesola closed yesterday at $1.14. SOL has a 1-year high of $3.62 and a 1-year low of $0.94. The stock’s 50-day moving average is $1.30 and its 200-day moving average is $1.46.

On the ratings front, Renesola has been the subject of a number of recent research reports. In a report issued on August 26, Roth Capital analyst Philip Shen reiterated a Hold rating on SOL, with a price target of $1.16, which represents a slight upside potential from current levels. Separately, on August 5, Cowen’s Jeff Osborne upgraded the stock to Buy .

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Philip Shen and Jeff Osborne have a total average return of -17.7% and -12.0% respectively. Shen has a success rate of 20.2% and is ranked #3723 out of 3741 analysts, while Osborne has a success rate of 41.2% and is ranked #3620.

ReneSola Ltd is a manufacturer of solar wafers and producer of solar power products based in China, which are thin sheets of crystalline silicon material made by slicing monocrystalline or multicrystalline ingots.

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