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 research note issued on Tuesday.

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

Emeren Group Price Performance

NYSE SOL opened at $2.20 on Tuesday. The company has a market cap of $112.77 million, a PE ratio of -5.64 and a beta of 1.73. Emeren Group has a 52 week low of $1.41 and a 52 week high of $3.00. The company has a quick ratio of 4.27, a current ratio of 4.27 and a debt-to-equity ratio of 0.07. The firm’s 50-day simple moving average is $2.39 and its two-hundred day simple moving average is $1.96.

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 the consensus estimate of $0.07 by ($0.06). The business had revenue of $30.06 million for 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 period last year, the company earned $0.14 earnings per share. Research analysts predict that Emeren Group will post 0.33 earnings per share for the current year.

Insider Activity

In related news, Chairman Shah Capital Management acquired 26,843 shares of the firm’s stock in a transaction that occurred 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 transaction, the chairman now owns 18,655,151 shares in the company, valued at approximately $34,138,926.33. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 37.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SOL. Monaco Asset Management SAM increased its position 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 worth $2,258,000 after purchasing an additional 337,650 shares during the last quarter. GSA Capital Partners LLP increased its position 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 worth $1,443,000 after purchasing an additional 66,284 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of 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 worth $72,000 after purchasing an additional 29,484 shares during the last quarter. Finally, Long Run Wealth Advisors LLC bought a new position in Emeren Group during the third quarter valued at approximately $28,000. 44.08% of the stock is currently owned by institutional investors.

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.