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

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

Several other analysts also recently weighed in on the stock. Roth Mkm restated a “buy” rating and set a $3.00 price objective on shares of Emeren Group in a research report on Wednesday, August 21st. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Emeren Group in a research note on Wednesday, August 21st. Three analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $3.83.

Emeren Group Stock Down 4.2 %

Emeren Group stock opened at $2.04 on Wednesday. The stock has a market cap of $104.56 million, a PE ratio of -5.23 and a beta of 1.73. 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 stock’s fifty day moving average is $2.42 and its two-hundred day moving average is $1.97. Emeren Group has a 1-year low of $1.41 and a 1-year high of $3.00.

Emeren Group (NYSE:SOL) last released its quarterly earnings data 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 business had revenue of $30.06 million during the quarter, compared to analysts’ expectations of $21.10 million. Emeren Group had a negative net margin of 20.91% and a negative return on equity of 3.15%. During the same quarter in the previous year, the company posted $0.14 EPS. On average, sell-side analysts expect that Emeren Group will post 0.33 EPS for the current fiscal year.

Insider Buying and Selling at Emeren Group

In other Emeren Group news, Chairman Shah Capital Management bought 26,843 shares of the stock in a transaction dated 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 transaction, the chairman now owns 18,655,151 shares in the company, valued at approximately $34,138,926.33. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 37.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Emeren Group

A hedge fund recently raised its stake in Emeren Group stock. Mercer Global Advisors Inc. ADV boosted its stake in shares of Emeren Group Ltd (NYSE:SOL) by 160.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,809 shares of the semiconductor company’s stock after acquiring an additional 29,484 shares during the quarter. Mercer Global Advisors Inc. ADV owned about 0.08% of Emeren Group worth $72,000 as of its most recent filing with the Securities and Exchange Commission. 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.