Emeren Group (NYSE:SOL) Shares Pass Above 200-Day Moving Average – Should You Sell?

Emeren Group Ltd (NYSE:SOL) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.90 and traded as high as $2.71. Emeren Group shares last traded at $2.70, with a volume of 105,976 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of Emeren Group in a research report on Wednesday, August 21st. StockNews.com raised shares of Emeren Group from a “sell” rating to a “hold” rating in a report on Thursday, October 3rd. Finally, Roth Mkm restated a “buy” rating and issued a $3.00 target price on shares of Emeren Group in a research note on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Emeren Group has a consensus rating of “Hold” and an average price target of $3.83.

Emeren Group Stock Down 0.9 %

The firm has a market capitalization of $162.31 million, a price-to-earnings ratio of -10.37 and a beta of 1.71. 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 stock has a fifty day moving average of $2.07 and a 200-day moving average of $1.90.

Emeren Group (NYSE:SOL) last announced its earnings results on Tuesday, August 20th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $21.10 million. During the same period last year, the firm earned $0.14 earnings per share. As a group, sell-side analysts expect that Emeren Group Ltd will post 0.33 EPS for the current year.

Insider Transactions at Emeren Group

In other news, Chairman Shah Capital Management bought 26,843 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $1.83 per share, for a total transaction of $49,122.69. Following the transaction, the chairman now directly owns 18,655,151 shares of the company’s stock, valued at $34,138,926.33. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 18.02% of the stock is owned by insiders.

Institutional Trading of Emeren Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP grew its holdings in shares of Emeren Group by 9.7% in the 1st quarter. GSA Capital Partners LLP now owns 747,448 shares of the semiconductor company’s stock valued at $1,443,000 after buying an additional 66,284 shares during the period. Monaco Asset Management SAM lifted its holdings in Emeren Group by 40.6% during the first quarter. Monaco Asset Management SAM now owns 1,170,000 shares of the semiconductor company’s stock worth $2,258,000 after acquiring an additional 337,650 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its stake 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. 44.08% of the stock is currently owned by institutional investors and hedge funds.

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.