Emeren Group (NYSE:SOL) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Emeren Group Ltd (NYSE:SOL) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.95 and traded as high as $2.58. Emeren Group shares last traded at $2.47, with a volume of 146,423 shares traded.

Wall Street Analyst Weigh In

SOL has been the topic of several recent research reports. Roth Mkm reaffirmed a “buy” rating and set a $3.00 target price on shares of Emeren Group in a report on Wednesday, August 21st. StockNews.com raised Emeren Group from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Emeren Group in a research note on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $3.83.

Emeren Group Price Performance

The company has a market capitalization of $126.60 million, a price-to-earnings ratio of -6.33 and a beta of 1.74. The business has a 50 day moving average price of $2.36 and a 200-day moving average price of $1.95. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.27 and a current ratio of 4.27.

Emeren Group (NYSE:SOL) last issued its earnings results on Tuesday, August 20th. The semiconductor company reported $0.01 EPS 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 period in the previous year, the firm earned $0.14 earnings per share. Research analysts predict that Emeren Group Ltd will post 0.33 EPS for the current fiscal year.

Insider Activity at Emeren Group

In related news, Chairman Shah Capital Management acquired 26,843 shares of the firm’s stock in a transaction 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 acquisition, the chairman now owns 18,655,151 shares of the company’s stock, valued at approximately $34,138,926.33. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 37.31% of the stock is currently owned by corporate insiders.

Institutional Trading of Emeren Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SOL. Long Run Wealth Advisors LLC purchased a new position in shares of Emeren Group in the 3rd quarter worth approximately $28,000. Mercer Global Advisors Inc. ADV boosted its stake in shares of 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 worth $72,000 after buying an additional 29,484 shares during the last quarter. GSA Capital Partners LLP boosted its stake 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 worth $1,443,000 after buying an additional 66,284 shares during the last quarter. Finally, Monaco Asset Management SAM boosted its stake in shares of Emeren Group by 40.6% in the 1st 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. 44.08% of the stock is owned by institutional investors.

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.