StockNews.com Downgrades Emeren Group (NYSE:SOL) to Sell

StockNews.com lowered shares of Emeren Group (NYSE:SOL) from a hold rating to a sell rating in a research report report published on Monday morning.

Several other equities analysts have also issued reports on SOL. Roth Mkm reaffirmed a “buy” rating and issued a $3.00 price target on shares of Emeren Group in a report on Wednesday, August 21st. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of Emeren Group in a research note on Wednesday, August 21st. Three analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $3.83.

Emeren Group Trading Down 1.2 %

SOL opened at $2.44 on Monday. The company has a current ratio of 4.27, a quick ratio of 4.27 and a debt-to-equity ratio of 0.07. The firm has a market cap of $125.06 million, a price-to-earnings ratio of -6.23 and a beta of 1.71. Emeren Group has a 12 month low of $1.41 and a 12 month high of $3.00. The stock has a fifty day moving average price of $2.34 and a 200-day moving average price of $1.94.

Emeren Group (NYSE:SOL) last released its quarterly earnings results on Tuesday, August 20th. The semiconductor company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Emeren Group had a negative net margin of 20.91% and a negative return on equity of 3.15%. The firm had revenue of $30.06 million during the quarter, compared to the consensus estimate of $21.10 million. During the same quarter in the prior year, the business posted $0.14 earnings per share. As a group, equities research analysts anticipate that Emeren Group will post 0.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Emeren Group

In other news, Chairman Shah Capital Management acquired 26,843 shares of Emeren Group stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average cost of $1.83 per share, for a total transaction of $49,122.69. Following the completion of the purchase, the chairman now directly owns 18,655,151 shares in the company, valued at $34,138,926.33. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 37.31% of the company’s stock.

Institutional Trading of Emeren Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Long Run Wealth Advisors LLC acquired a new stake in Emeren Group during the third quarter worth about $28,000. Mercer Global Advisors Inc. ADV lifted its holdings in Emeren Group by 160.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 47,809 shares of the semiconductor company’s stock valued at $72,000 after acquiring an additional 29,484 shares during the period. GSA Capital Partners LLP boosted its position in Emeren Group by 9.7% in the 1st quarter. GSA Capital Partners LLP now owns 747,448 shares of the semiconductor company’s stock worth $1,443,000 after purchasing an additional 66,284 shares in the last quarter. Finally, Monaco Asset Management SAM grew its stake in shares of Emeren Group by 40.6% during the 1st quarter. Monaco Asset Management SAM now owns 1,170,000 shares of the semiconductor company’s stock worth $2,258,000 after purchasing an additional 337,650 shares during the period. Institutional investors and hedge funds own 44.08% of the company’s stock.

About Emeren Group

Emeren Group Ltd, together with its subsidiaries, develops, builds, and sells solar power projects. It owns and operates 3-gigawatt pipeline of projects and independent power producer assets, as well as a 10-gigawatt pipeline of storage pipeline. The company develops community solar gardens; and sells project rights.