Emeren Group (NYSE:SOL) Stock Rating Lowered by 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 note issued to investors on Friday.

Other research analysts have also issued reports about the company. BWS Financial restated a "sell" rating and issued a $6.00 price target on shares of Emeren Group in a research report on Monday, December 16th. HC Wainwright reiterated a "buy" rating and set a $7.00 target price on shares of Emeren Group in a report on Friday. Four investment analysts have rated the stock with a sell rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $4.13.

Emeren Group Trading Up 6.6 %

SOL traded up $0.11 during mid-day trading on Friday, reaching $1.69. The stock had a trading volume of 919,511 shares, compared to its average volume of 306,800. The stock has a market capitalization of $86.36 million, a P/E ratio of -12.96 and a beta of 1.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.34 and a current ratio of 4.34. The firm's fifty day simple moving average is $1.76 and its two-hundred day simple moving average is $2.04. Emeren Group has a 52 week low of $1.04 and a 52 week high of $3.00.

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Emeren Group (NYSE:SOL - Get Free Report) last posted its quarterly earnings results on Thursday, March 13th. The semiconductor company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.31). Emeren Group had a negative return on equity of 2.05% and a negative net margin of 7.14%. The company had revenue of $34.60 million during the quarter, compared to the consensus estimate of $40.13 million. During the same quarter in the prior year, the business earned ($0.15) earnings per share. On average, equities analysts predict that Emeren Group will post 0.1 EPS for the current year.

Institutional Trading of Emeren Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Monaco Asset Management SAM increased its position in shares of Emeren Group by 35.7% in the fourth quarter. Monaco Asset Management SAM now owns 1,847,764 shares of the semiconductor company's stock valued at $3,751,000 after acquiring an additional 486,063 shares during the last quarter. Invesco Ltd. increased its position in shares of Emeren Group by 26.5% in the fourth quarter. Invesco Ltd. now owns 792,148 shares of the semiconductor company's stock valued at $1,608,000 after acquiring an additional 165,902 shares during the last quarter. Shah Capital Management increased its position in shares of Emeren Group by 0.4% in the fourth quarter. Shah Capital Management now owns 18,818,236 shares of the semiconductor company's stock valued at $38,201,000 after acquiring an additional 69,374 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Emeren Group in the fourth quarter valued at about $80,000. Finally, XTX Topco Ltd acquired a new stake in shares of Emeren Group in the third quarter valued at about $88,000. Institutional investors and hedge funds 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.