StockNews.com Upgrades Emeren Group (NYSE:SOL) to “Hold”

Emeren Group (NYSE:SOL) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

Several other analysts have also commented on SOL. 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. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective 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 issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Emeren Group currently has a consensus rating of “Hold” and a consensus price target of $3.83.

Emeren Group Stock Up 0.5 %

Shares of SOL stock opened at $1.87 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.34 and a current ratio of 4.34. Emeren Group has a fifty-two week low of $1.41 and a fifty-two week high of $3.00. The firm has a market capitalization of $95.85 million, a PE ratio of -14.38 and a beta of 1.73. The stock’s 50-day simple moving average is $2.40 and its 200-day simple moving average is $1.98.

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 analysts’ expectations of $21.10 million. Emeren Group had a negative net margin of 7.14% and a negative return on equity of 2.05%. During the same period in the previous year, the company posted $0.14 earnings per share. Equities analysts expect that Emeren Group will post 0.33 earnings per share for the current year.

Insider Activity

In other Emeren Group news, Chairman Shah Capital Management bought 26,843 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased 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 approximately $34,138,926.33. This represents a 0.14 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 37.31% of the company’s stock.

Hedge Funds Weigh In On Emeren Group

Large investors have recently added to or reduced their stakes in the stock. Long Run Wealth Advisors LLC purchased a new stake in shares of Emeren Group during the third quarter worth about $28,000. Mercer Global Advisors Inc. ADV boosted 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 worth $72,000 after buying an additional 29,484 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in Emeren Group during the 3rd quarter worth approximately $88,000. 44.08% of the stock is currently 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.