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

StockNews.com downgraded shares of Emeren Group (NYSE:SOL) from a hold rating to a sell rating in a report released on Friday morning.

A number of other equities research analysts have also commented on the company. BWS Financial restated a “sell” rating and set a $6.00 price target on shares of Emeren Group in a research report on Monday, December 16th. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of Emeren Group in a research report on Friday. Four research analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $4.38.

Emeren Group Trading Down 19.4 %

SOL stock opened at $1.19 on Friday. Emeren Group has a 1-year low of $1.04 and a 1-year high of $3.00. The firm has a market cap of $60.74 million, a P/E ratio of -9.12 and a beta of 1.70. The business’s 50 day moving average is $1.77 and its 200-day moving average is $2.04. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.10.

Emeren Group (NYSE:SOL) last released its quarterly earnings data on Thursday, March 13th. The semiconductor company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.31). Emeren Group had a negative net margin of 7.14% and a negative return on equity of 2.05%. 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 company posted ($0.15) earnings per share. Equities analysts anticipate that Emeren Group will post 0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Shah Capital Management lifted its stake in shares of Emeren Group by 0.4% in the 4th quarter. Shah Capital Management now owns 18,818,236 shares of the semiconductor company’s stock valued at $38,201,000 after purchasing an additional 69,374 shares during the period. Monaco Asset Management SAM lifted its stake in shares of Emeren Group by 35.7% in the 4th quarter. Monaco Asset Management SAM now owns 1,847,764 shares of the semiconductor company’s stock valued at $3,751,000 after purchasing an additional 486,063 shares during the period. Invesco Ltd. lifted its stake in shares of Emeren Group by 26.5% in the 4th quarter. Invesco Ltd. now owns 792,148 shares of the semiconductor company’s stock valued at $1,608,000 after purchasing an additional 165,902 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Emeren Group in the 4th quarter valued at $80,000. Finally, XTX Topco Ltd acquired a new position in shares of Emeren Group in the 3rd quarter valued at $88,000. 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.