Emeren Group (NYSE:SOL) Rating Lowered to “Sell” at StockNews.com

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

Other equities research analysts have also issued research reports about the stock. HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of Emeren Group in a report on Wednesday, August 21st. Roth Mkm reissued a “buy” rating and issued a $3.00 price objective on shares of Emeren Group in a research note on Wednesday, August 21st. Three research analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $3.83.

Emeren Group Stock Down 1.2 %

Shares of NYSE:SOL opened at $2.44 on Monday. The company has a 50-day moving average price of $2.34 and a 200 day moving average price of $1.94. The company has a current ratio of 4.27, a quick ratio of 4.27 and a debt-to-equity ratio of 0.07. Emeren Group has a 12 month low of $1.41 and a 12 month high of $3.00. The company has a market cap of $125.06 million, a price-to-earnings ratio of -6.23 and a beta of 1.71.

Emeren Group (NYSE:SOL) last announced 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). Emeren Group had a negative return on equity of 3.15% and a negative net margin of 20.91%. The company had revenue of $30.06 million during the quarter, compared to analysts’ expectations of $21.10 million. During the same quarter last year, the firm posted $0.14 EPS. As a group, equities research analysts predict that Emeren Group will post 0.33 earnings per share for the current year.

Insider Activity

In related news, Chairman Shah Capital Management purchased 26,843 shares of Emeren Group stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $1.83 per share, with a total value of $49,122.69. Following the purchase, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 37.31% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Monaco Asset Management SAM lifted its holdings in shares of 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. GSA Capital Partners LLP raised its holdings in shares of Emeren Group by 9.7% in 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 lifted its stake 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 acquiring an additional 29,484 shares during the period. Finally, Long Run Wealth Advisors LLC bought a new position in Emeren Group during the 3rd quarter worth about $28,000. 44.08% of the stock is currently owned by hedge funds and other institutional investors.

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.