Emeren Group (NYSE:SOL) Stock Rating Upgraded by StockNews.com

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

Several other research analysts have also recently weighed in on SOL. Roth Mkm reissued 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 reissued a “buy” rating and issued a $7.00 price target on shares of Emeren Group in a research note on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $3.83.

Emeren Group Trading Up 0.5 %

SOL opened at $1.87 on Thursday. The firm has a market capitalization of $95.85 million, a price-to-earnings ratio of -14.38 and a beta of 1.73. The company’s 50 day simple moving average is $2.40 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 company has a debt-to-equity ratio of 0.10, a current ratio of 4.34 and a quick ratio of 4.34.

Emeren Group (NYSE:SOL) last released its quarterly earnings data 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). The company had revenue of $30.06 million for the quarter, compared to analyst estimates of $21.10 million. Emeren Group had a negative return on equity of 2.05% and a negative net margin of 7.14%. During the same period last year, the firm posted $0.14 EPS. Analysts expect 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 business’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $1.83 per share, for a total transaction of $49,122.69. Following the completion of the purchase, the chairman now directly owns 18,655,151 shares in the company, valued at approximately $34,138,926.33. This represents a 0.14 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 37.31% of the company’s stock.

Institutional Investors Weigh In On Emeren Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV increased its stake in 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 valued at $72,000 after purchasing an additional 29,484 shares during the last quarter. Long Run Wealth Advisors LLC acquired a new position in Emeren Group in the third quarter valued at $28,000. Finally, XTX Topco Ltd purchased a new position in shares of Emeren Group during the third quarter worth approximately $88,000. Institutional investors and hedge funds 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.