Emeren Group (NYSE:SOL) Lifted to Hold at StockNews.com

Emeren Group (NYSE:SOL) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

Several other analysts have also weighed in on the stock. Roth Mkm reiterated a “buy” rating and set a $3.00 target price on shares of Emeren Group in a research note on Wednesday, August 21st. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of Emeren Group in a report on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Emeren Group has a consensus rating of “Hold” and an average target price of $4.88.

Emeren Group Stock Down 1.4 %

NYSE:SOL traded down $0.04 during mid-day trading on Thursday, reaching $2.79. The stock had a trading volume of 457,301 shares, compared to its average volume of 375,850. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.27 and a quick ratio of 4.27. The company has a market capitalization of $168.03 million, a price-to-earnings ratio of -10.73 and a beta of 1.71. Emeren Group has a 1-year low of $1.41 and a 1-year high of $3.21. The stock’s 50 day simple moving average is $1.95 and its two-hundred day simple moving average is $1.86.

Emeren Group (NYSE:SOL) last released 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 for the quarter, compared to the consensus estimate 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 period in the prior year, the business earned $0.14 EPS. Equities analysts anticipate that Emeren Group will post 0.27 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman Shah Capital Management purchased 26,843 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was 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 owns 18,655,151 shares of the company’s stock, valued at $34,138,926.33. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 18.02% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Emeren Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP raised its stake in Emeren Group by 9.7% during the 1st 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. Monaco Asset Management SAM increased its holdings 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. Finally, Mercer Global Advisors Inc. ADV raised its stake 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 purchasing an additional 29,484 shares in the last quarter. 44.08% of the stock is currently owned by institutional investors and hedge funds.

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.