Emeren Group (NYSE:SOL) Rating Lowered to Sell at StockNews.com

Emeren Group (NYSE:SOL) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Monday.

Other research analysts have also issued reports about the company. Roth Mkm reissued a “buy” rating and set a $3.00 target price on shares of Emeren Group in a report on Wednesday, August 21st. HC Wainwright reissued a “buy” rating and set a $7.00 target price on shares of Emeren Group in a report on Wednesday, August 21st. Three equities research analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $3.83.

Emeren Group Trading Down 2.0 %

Shares of Emeren Group stock opened at $2.41 on Monday. Emeren Group has a 12-month low of $1.41 and a 12-month high of $3.00. The stock has a market cap of $123.54 million, a P/E ratio of -6.18 and a beta of 1.71. The company has a quick ratio of 4.27, a current ratio of 4.27 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average is $2.33 and its 200-day moving average is $1.94.

Emeren Group (NYSE:SOL) last announced its quarterly earnings data on Tuesday, August 20th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The company had revenue of $30.06 million for the quarter, compared to the consensus estimate of $21.10 million. Emeren Group had a negative return on equity of 3.15% and a negative net margin of 20.91%. During the same quarter in the prior year, the company earned $0.14 EPS. Equities research analysts predict 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 the firm’s stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average cost of $1.83 per share, with a total value of $49,122.69. Following the acquisition, the chairman now directly owns 18,655,151 shares in the company, valued at $34,138,926.33. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 37.31% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SOL. Mercer Global Advisors Inc. ADV grew its holdings in Emeren Group by 160.9% in the 2nd 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 in the last quarter. GSA Capital Partners LLP grew its holdings in shares of Emeren Group by 9.7% during 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 holdings 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 in the last quarter. 44.08% of the stock is owned by institutional investors and hedge funds.

Emeren Group Company Profile

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.