Emeren Group (NYSE:SOL - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "hold" rating to a "sell" rating in a report released on Monday.
A number of other equities analysts have also recently issued reports on the company. Roth Mkm restated a "buy" rating and set a $3.00 price target on shares of Emeren Group in a report on Wednesday, August 21st. HC Wainwright restated a "buy" rating and set a $7.00 price target on shares of Emeren Group in a report on Wednesday, August 21st. Three investment analysts have rated the stock with a sell rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $3.83.
Read Our Latest Analysis on SOL
Emeren Group Trading Up 3.3 %
Shares of NYSE SOL traded up $0.08 during midday trading on Monday, reaching $2.47. The stock had a trading volume of 127,559 shares, compared to its average volume of 359,979. Emeren Group has a twelve month low of $1.41 and a twelve month high of $3.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.27 and a current ratio of 4.27. The company's 50 day moving average price is $2.32 and its 200 day moving average price is $1.93. The firm has a market cap of $126.61 million, a price-to-earnings ratio of -6.33 and a beta of 1.71.
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 (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The firm had revenue of $30.06 million during the quarter, compared to analyst estimates 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 quarter in the previous year, the firm earned $0.14 EPS. As a group, sell-side analysts expect that Emeren Group will post 0.33 EPS for the current year.
Insider Activity
In other Emeren Group news, Chairman Shah Capital Management purchased 26,843 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $1.83 per share, for a total transaction of $49,122.69. Following the purchase, the chairman now owns 18,655,151 shares of the company's stock, valued at $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 company insiders.
Institutional Trading of Emeren Group
Several institutional investors and hedge funds have recently modified their holdings of SOL. Mercer Global Advisors Inc. ADV lifted its position in shares of 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 purchasing an additional 29,484 shares in the last quarter. Monaco Asset Management SAM lifted its position in shares of Emeren Group by 40.6% during the first quarter. Monaco Asset Management SAM now owns 1,170,000 shares of the semiconductor company's stock valued at $2,258,000 after purchasing an additional 337,650 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its position in shares of Emeren Group by 9.7% during the first quarter. GSA Capital Partners LLP now owns 747,448 shares of the semiconductor company's stock valued at $1,443,000 after purchasing an additional 66,284 shares in the last quarter. 44.08% of the stock is owned by hedge funds and other institutional investors.
About Emeren Group
(
Get Free Report)
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.
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