Emeren Group (NYSE:SOL) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Emeren Group (NYSE:SOL) from a sell rating to a hold rating in a research report report published on Tuesday.

Other research analysts have also issued reports about the stock. Roth Mkm reissued a “buy” rating and issued a $3.00 target price on shares of Emeren Group in a report on Wednesday, August 21st. HC Wainwright reissued a “buy” rating and issued a $7.00 price objective 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $3.83.

Emeren Group Stock Down 1.4 %

Shares of SOL stock opened at $2.15 on Tuesday. The company’s fifty day simple moving average is $2.41 and its two-hundred day simple moving average is $1.97. Emeren Group has a 52 week low of $1.41 and a 52 week high of $3.00. The stock has a market cap of $110.21 million, a P/E ratio of -5.51 and a beta of 1.73. The company has a quick ratio of 4.27, a current ratio of 4.27 and a debt-to-equity ratio of 0.07.

Emeren Group (NYSE:SOL) last posted its earnings results on Tuesday, August 20th. The semiconductor company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The firm had revenue of $30.06 million during the quarter, compared to analysts’ expectations of $21.10 million. Emeren Group had a negative return on equity of 3.15% and a negative net margin of 20.91%. During the same quarter in the prior year, the firm posted $0.14 earnings per share. Analysts predict that Emeren Group will post 0.33 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Shah Capital Management acquired 26,843 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $1.83 per share, for a total transaction of $49,122.69. Following the completion of the transaction, the chairman now directly owns 18,655,151 shares of the company’s stock, valued at approximately $34,138,926.33. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 37.31% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Long Run Wealth Advisors LLC purchased a new position in Emeren Group during the 3rd quarter valued at $28,000. 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 worth $72,000 after purchasing an additional 29,484 shares during the last quarter. 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 worth $1,443,000 after purchasing an additional 66,284 shares during the last quarter. Finally, Monaco Asset Management SAM boosted 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 during the period. 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.