Emeren Group (NYSE:SOL) Cut to "Sell" at StockNews.com

Emeren Group (NYSE:SOL - Get Free Report) was downgraded by research analysts at StockNews.com from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Wednesday.

A number of other equities analysts have also recently commented on the stock. HC Wainwright reaffirmed a "buy" rating and set a $7.00 price target on shares of Emeren Group in a research note on Wednesday, August 21st. Roth Mkm restated a "buy" rating and set a $3.00 target price on shares of Emeren Group in a research 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. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $3.83.

Emeren Group Stock Up 2.0 %

NYSE SOL traded up $0.04 during trading hours on Wednesday, hitting $2.06. 260,755 shares of the company were exchanged, compared to its average volume of 353,395. Emeren Group has a 52 week low of $1.41 and a 52 week high of $3.00. 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 50-day moving average price of $2.42 and a 200 day moving average price of $1.97.

Emeren Group (NYSE:SOL - Get Free Report) last released its earnings results on Tuesday, August 20th. The semiconductor company reported $0.01 earnings per share for the quarter, missing the consensus estimate 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 net margin of 20.91% and a negative return on equity of 3.15%. During the same period in the prior year, the firm posted $0.14 EPS. Research analysts predict that Emeren Group will post 0.33 earnings per share for the current year.

Insider Activity

In related news, Chairman Shah Capital Management acquired 26,843 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average price of $1.83 per share, for a total transaction of $49,122.69. Following the acquisition, the chairman now directly owns 18,655,151 shares of the company's stock, valued at $34,138,926.33. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 37.31% of the company's stock.

Institutional Trading of Emeren Group

A hedge fund recently raised its stake in Emeren Group stock. Mercer Global Advisors Inc. ADV lifted its holdings in Emeren Group Ltd (NYSE:SOL - Free Report) by 160.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 47,809 shares of the semiconductor company's stock after purchasing an additional 29,484 shares during the period. Mercer Global Advisors Inc. ADV owned about 0.08% of Emeren Group worth $72,000 at the end of the most recent quarter. Institutional investors and hedge funds own 44.08% of the company's stock.

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.