Emeren Group (NYSE:SOL) Downgraded to “Sell” Rating by StockNews.com

StockNews.com downgraded shares of Emeren Group (NYSE:SOL) from a hold rating to a sell rating in a research report released on Wednesday morning.

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

Emeren Group Stock Up 2.0 %

Shares of NYSE:SOL opened at $2.06 on Wednesday. The stock’s 50-day moving average price is $2.42 and its two-hundred day moving average price is $1.97. Emeren Group has a 12-month low of $1.41 and a 12-month high of $3.00. The company has a current ratio of 4.27, a quick ratio of 4.27 and a debt-to-equity ratio of 0.07. The firm has a market cap of $105.60 million, a price-to-earnings ratio of -5.28 and a beta of 1.73.

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 company 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 period last year, the business earned $0.14 earnings per share. On average, research analysts forecast that Emeren Group will post 0.33 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman Shah Capital Management purchased 26,843 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $1.83 per share, with a total value of $49,122.69. Following 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 filing with the Securities & Exchange Commission, which is accessible through this link. 37.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Emeren Group

An institutional investor recently bought a new position in Emeren Group stock. Long Run Wealth Advisors LLC purchased a new stake in shares of Emeren Group Ltd (NYSE:SOL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,300 shares of the semiconductor company’s stock, valued at approximately $28,000. 44.08% of the stock is owned by institutional investors.

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.