Emeren Group (NYSE:SOL) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Shares of Emeren Group Ltd (NYSE:SOL) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.01 and traded as high as $2.30. Emeren Group shares last traded at $2.25, with a volume of 407,857 shares changing hands.

Analyst Ratings Changes

Several research firms recently weighed in on SOL. StockNews.com upgraded shares of Emeren Group from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. BWS Financial reissued a “sell” rating and set a $6.00 target price on shares of Emeren Group in a research report on Monday, December 16th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of Emeren Group in a report on Friday, November 15th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.38.

Emeren Group Stock Performance

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 company has a market cap of $115.32 million, a PE ratio of -17.31 and a beta of 1.63. The company’s 50 day moving average price is $2.02 and its 200-day moving average price is $2.01.

Institutional Trading of Emeren Group

A number of large investors have recently bought and sold shares of SOL. XTX Topco Ltd bought a new position in shares of Emeren Group during the 3rd quarter worth $88,000. Long Run Wealth Advisors LLC bought a new position in Emeren Group during the third quarter worth about $28,000. Finally, Mercer Global Advisors Inc. ADV increased its stake in shares of 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 in the last quarter. 44.08% of the stock is owned by hedge funds and other institutional investors.

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.