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

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

Several other research firms have also issued reports on SOL. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Emeren Group in a report on Wednesday, August 21st. 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. Three analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $3.83.

Emeren Group Stock Performance

Shares of SOL opened at $2.00 on Wednesday. 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 one year low of $1.41 and a one year high of $3.00. The company has a 50-day simple moving average of $2.42 and a two-hundred day simple moving average of $1.97. The firm has a market capitalization of $102.52 million, a PE ratio of -5.13 and a beta of 1.73.

Emeren Group (NYSE:SOL) last issued 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). Emeren Group had a negative return on equity of 3.15% and a negative net margin of 20.91%. The company had revenue of $30.06 million during the quarter, compared to analysts’ expectations of $21.10 million. During the same quarter last year, the business earned $0.14 earnings per share. On average, analysts anticipate that Emeren Group will post 0.33 EPS for the current fiscal year.

Insider Activity at Emeren Group

In other Emeren Group news, Chairman Shah Capital Management acquired 26,843 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average price of $1.83 per share, with a total value of $49,122.69. Following the transaction, the chairman now directly owns 18,655,151 shares in the company, valued at approximately $34,138,926.33. The trade was a 0.14 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 37.31% of the stock is owned by insiders.

Institutional Investors Weigh In On Emeren Group

An institutional investor recently bought a new position in Emeren Group stock. Long Run Wealth Advisors LLC bought a new stake in shares of Emeren Group Ltd (NYSE:SOL) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 10,300 shares of the semiconductor company’s stock, valued at approximately $28,000. 44.08% of the stock is currently owned by hedge funds and other 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.