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

Emeren Group (NYSE:SOL) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

A number of other research firms have also weighed in on SOL. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Emeren Group in a research report on Wednesday, August 21st. Roth Mkm reaffirmed a “buy” rating and set a $3.00 price objective on shares of Emeren Group in a research report on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $3.83.

Emeren Group Trading Up 0.4 %

SOL opened at $2.47 on Tuesday. The stock has a market cap of $126.60 million, a PE ratio of -6.33 and a beta of 1.74. 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 has a 50 day moving average of $2.36 and a 200-day moving average of $1.95. 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 data 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 company had revenue of $30.06 million for the quarter, compared to the consensus estimate of $21.10 million. During the same period last year, the business earned $0.14 EPS. Equities research analysts predict that Emeren Group will post 0.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Emeren Group news, Chairman Shah Capital Management bought 26,843 shares of Emeren Group stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $1.83 per share, with a total value of $49,122.69. Following the acquisition, the chairman now owns 18,655,151 shares in the company, valued at approximately $34,138,926.33. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 37.31% of the company’s stock.

Institutional Trading of Emeren Group

A number of hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP lifted its holdings in Emeren Group by 9.7% in the first quarter. GSA Capital Partners LLP now owns 747,448 shares of the semiconductor company’s stock valued at $1,443,000 after acquiring an additional 66,284 shares during the period. Monaco Asset Management SAM boosted its holdings in shares of Emeren Group by 40.6% in the first quarter. Monaco Asset Management SAM now owns 1,170,000 shares of the semiconductor company’s stock worth $2,258,000 after buying an additional 337,650 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in Emeren Group by 160.9% during 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 period. Finally, Long Run Wealth Advisors LLC bought a new stake in Emeren Group during the third quarter valued at approximately $28,000. Hedge funds and other institutional investors own 44.08% of the company’s stock.

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.