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

Emeren Group (NYSE:SOL) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Tuesday.

Several other brokerages also recently weighed in on SOL. Roth Mkm reaffirmed a “buy” rating and set a $3.00 price target on shares of Emeren Group in a report on Wednesday, August 21st. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Emeren Group in a report on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $3.83.

Emeren Group Price Performance

Shares of NYSE:SOL opened at $2.47 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.27 and a quick ratio of 4.27. Emeren Group has a 1-year low of $1.41 and a 1-year high of $3.00. The company has a market capitalization of $126.60 million, a P/E ratio of -6.33 and a beta of 1.74. The firm’s 50 day simple moving average is $2.36 and its two-hundred day simple moving average is $1.95.

Emeren Group (NYSE:SOL) last issued its quarterly earnings results 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 net margin of 20.91% and a negative return on equity of 3.15%. The firm had revenue of $30.06 million for the quarter, compared to analysts’ expectations of $21.10 million. During the same period in the prior year, the firm earned $0.14 EPS. Research analysts expect that Emeren Group will post 0.33 EPS for the current fiscal year.

Insider Transactions at Emeren Group

In related news, Chairman Shah Capital Management bought 26,843 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average price of $1.83 per share, with a total value 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. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 37.31% of the company’s stock.

Institutional Investors Weigh In On Emeren Group

Hedge funds have recently bought and sold shares of the business. Long Run Wealth Advisors LLC purchased a new stake in Emeren Group during the third quarter valued at $28,000. Mercer Global Advisors Inc. ADV raised its stake 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 valued at $72,000 after purchasing an additional 29,484 shares in the last quarter. GSA Capital Partners LLP raised its stake in Emeren Group by 9.7% during the first quarter. GSA Capital Partners LLP now owns 747,448 shares of the semiconductor company’s stock valued at $1,443,000 after purchasing an additional 66,284 shares in the last quarter. Finally, Monaco Asset Management SAM raised its stake in 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 in the last quarter. Hedge funds and other institutional investors own 44.08% of the company’s stock.

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.