Emeren Group (NYSE:SOL) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Emeren Group (NYSE:SOL) from a sell rating to a hold rating in a report issued on Thursday morning.

A number of other equities analysts also recently commented on SOL. Roth Mkm reiterated a “buy” rating and set a $3.00 target price on shares of Emeren Group in a research note on Wednesday, August 21st. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Emeren Group in a research note on Friday, November 15th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Emeren Group presently has an average rating of “Hold” and a consensus price target of $3.83.

Emeren Group Stock Performance

NYSE:SOL opened at $1.82 on Thursday. The company has a fifty day simple moving average of $2.39 and a two-hundred day simple moving average of $1.98. The company has a market cap of $93.28 million, a price-to-earnings ratio of -14.04 and a beta of 1.73. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.10. Emeren Group has a 52 week low of $1.41 and a 52 week high of $3.00.

Emeren Group (NYSE:SOL) last posted its quarterly earnings results on Tuesday, August 20th. The semiconductor company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $30.06 million during the quarter, compared to analyst estimates of $21.10 million. Emeren Group had a negative return on equity of 2.05% and a negative net margin of 7.14%. During the same quarter last year, the firm earned $0.14 EPS. As a group, equities analysts anticipate that Emeren Group will post 0.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Shah Capital Management purchased 26,843 shares of Emeren Group stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $1.83 per share, with a total value of $49,122.69. Following the completion of the transaction, the chairman now directly owns 18,655,151 shares in the company, valued at approximately $34,138,926.33. The trade was a 0.14 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 37.31% of the company’s stock.

Institutional Investors Weigh In On Emeren Group

A number of institutional investors and hedge funds have recently bought and sold shares of SOL. Long Run Wealth Advisors LLC purchased a new stake in shares of Emeren Group in the third quarter valued at about $28,000. Mercer Global Advisors Inc. ADV raised its holdings in shares of 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 buying an additional 29,484 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Emeren Group in the third quarter valued at about $88,000. 44.08% of the stock is owned by hedge funds and other institutional investors.

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.