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

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

Several other analysts have also commented on SOL. Roth Mkm reaffirmed a “buy” rating and set a $3.00 price target on shares of Emeren Group in a research report on Wednesday, August 21st. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Emeren Group in a research report on Friday, November 15th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $3.83.

Emeren Group Trading Down 0.0 %

SOL opened at $1.82 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.34 and a quick ratio of 4.34. The company’s 50 day simple moving average is $2.39 and its two-hundred day simple moving average is $1.98. Emeren Group has a 1-year low of $1.41 and a 1-year high of $3.00. The firm has a market capitalization of $93.28 million, a price-to-earnings ratio of -14.04 and a beta of 1.73.

Emeren Group (NYSE:SOL) last released its earnings results on Tuesday, August 20th. The semiconductor company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Emeren Group had a negative return on equity of 2.05% and a negative net margin of 7.14%. The business had revenue of $30.06 million during the quarter, compared to analysts’ expectations of $21.10 million. During the same period last year, the business earned $0.14 earnings per share. Analysts expect that Emeren Group will post 0.09 EPS for the current fiscal year.

Insider Buying and Selling at Emeren Group

In other news, Chairman Shah Capital Management bought 26,843 shares of the business’s stock in a transaction 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 completion of the transaction, the chairman now directly owns 18,655,151 shares in the company, valued at $34,138,926.33. This trade represents a 0.14 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 37.31% of the stock is owned by corporate insiders.

Institutional Trading of Emeren Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new stake in Emeren Group in the third quarter valued at approximately $88,000. Long Run Wealth Advisors LLC purchased a new stake in Emeren Group in the third quarter valued at approximately $28,000. Finally, Mercer Global Advisors Inc. ADV grew 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 acquiring an additional 29,484 shares in the last quarter. Hedge funds and other 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.