Emeren Group (NYSE:SOL) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Emeren Group Ltd (NYSE:SOL)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.95 and traded as high as $2.58. Emeren Group shares last traded at $2.47, with a volume of 146,423 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SOL shares. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of Emeren Group in a research report on Wednesday, August 21st. Roth Mkm reissued a “buy” rating and issued a $3.00 target price on shares of Emeren Group in a research note on Wednesday, August 21st. Finally, StockNews.com raised Emeren Group from a “sell” rating to a “hold” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $3.83.

Emeren Group Stock Up 0.4 %

The stock has a 50 day moving average price of $2.36 and a 200-day moving average price of $1.95. The stock has a market capitalization of $126.60 million, a P/E ratio of -6.33 and a beta of 1.74. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.27 and a quick ratio of 4.27.

Emeren Group (NYSE:SOL) last announced its quarterly earnings data on Tuesday, August 20th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The company had revenue of $30.06 million for the quarter, compared to the consensus estimate 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 period last year, the business posted $0.14 earnings per share. As a group, research analysts expect that Emeren Group Ltd will post 0.33 EPS for the current fiscal year.

Insider Transactions at Emeren Group

In related news, Chairman Shah Capital Management acquired 26,843 shares of the stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average cost of $1.83 per share, for a total transaction of $49,122.69. Following the completion of the acquisition, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 37.31% of the stock is currently owned by company insiders.

Institutional Trading of Emeren Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Monaco Asset Management SAM increased its stake 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. GSA Capital Partners LLP increased 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 acquiring an additional 66,284 shares in the last quarter. Mercer Global Advisors Inc. ADV increased 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 acquiring an additional 29,484 shares in the last quarter. Finally, Long Run Wealth Advisors LLC bought a new stake in shares of Emeren Group during the third quarter valued at approximately $28,000. 44.08% of the stock is currently 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.