Emeren Group (NYSE:SOL) Downgraded by StockNews.com to “Sell”

Emeren Group (NYSE:SOL) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Monday.

Several other equities research analysts have also recently commented on the company. Roth Mkm reaffirmed 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 reissued a “buy” rating and issued a $7.00 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 issued a buy rating to the company. According to MarketBeat, Emeren Group presently has an average rating of “Hold” and an average price target of $3.83.

Emeren Group Price Performance

Shares of SOL stock opened at $2.41 on Monday. 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 has a twelve month low of $1.41 and a twelve month high of $3.00. The company has a market cap of $123.54 million, a P/E ratio of -6.18 and a beta of 1.71. The business has a fifty day simple moving average of $2.33 and a 200 day simple moving average of $1.94.

Emeren Group (NYSE:SOL) last announced its quarterly earnings data on Tuesday, August 20th. The semiconductor company reported $0.01 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $30.06 million for the quarter, compared to the consensus estimate of $21.10 million. During the same quarter in the prior year, the company earned $0.14 earnings per share. On average, sell-side analysts forecast that Emeren Group will post 0.33 EPS for the current fiscal year.

Insider Activity

In other Emeren Group news, Chairman Shah Capital Management purchased 26,843 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 owns 18,655,151 shares of the company’s stock, valued at $34,138,926.33. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 37.31% of the company’s stock.

Institutional Trading of Emeren Group

A number of hedge funds have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV lifted its holdings in 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 acquiring an additional 29,484 shares during the period. GSA Capital Partners LLP raised its stake 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 buying an additional 66,284 shares during the period. Finally, Monaco Asset Management SAM raised its stake in shares of Emeren Group by 40.6% in 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 buying an additional 337,650 shares during the period. 44.08% of the stock is currently owned by 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.