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

StockNews.com upgraded shares of Emeren Group (NYSE:SOL - Free Report) from a sell rating to a hold rating in a report issued on Tuesday morning.

Several other equities research analysts also recently issued reports on the company. HC Wainwright reiterated a "buy" rating and set a $7.00 price target on shares of Emeren Group in a report on Wednesday, August 21st. Roth Mkm restated a "buy" rating and issued a $3.00 target price on shares of Emeren Group in a research note on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $3.83.

Emeren Group Stock Up 5.9 %

NYSE:SOL traded up $0.15 during trading hours on Tuesday, reaching $2.62. The company had a trading volume of 137,184 shares, compared to its average volume of 353,423. Emeren Group has a twelve month low of $1.41 and a twelve month high of $3.00. The company has a quick ratio of 4.27, a current ratio of 4.27 and a debt-to-equity ratio of 0.07. The firm has a market cap of $134.04 million, a price-to-earnings ratio of -6.74 and a beta of 1.73. The business's 50-day simple moving average is $2.37 and its two-hundred day simple moving average is $1.95.

Emeren Group (NYSE:SOL - Get Free Report) last posted its quarterly 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). Emeren Group had a negative net margin of 20.91% and a negative return on equity of 3.15%. The business had revenue of $30.06 million during the quarter, compared to analyst estimates of $21.10 million. During the same period in the previous year, the business posted $0.14 EPS. On average, equities analysts expect that Emeren Group will post 0.33 earnings per share for the current year.

Insider Activity at Emeren Group

In other news, Chairman Shah Capital Management purchased 26,843 shares of the company's stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average price of $1.83 per share, with a total value 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 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 37.31% of the stock is owned by company insiders.

Institutional Trading of Emeren Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Long Run Wealth Advisors LLC bought a new stake in shares of Emeren Group in the third quarter worth about $28,000. Mercer Global Advisors Inc. ADV boosted its position in Emeren Group by 160.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 47,809 shares of the semiconductor company's stock worth $72,000 after purchasing an additional 29,484 shares during the last quarter. GSA Capital Partners LLP increased 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 purchasing an additional 66,284 shares in the last quarter. Finally, Monaco Asset Management SAM boosted its holdings in 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 period. Hedge funds and other institutional investors 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.