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

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

SOL has been the subject of several other research reports. HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Emeren Group in a research note on Wednesday, August 21st. Roth Mkm reiterated 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 issued a buy rating to the company. According to data from MarketBeat.com, Emeren Group currently has a consensus rating of “Hold” and a consensus target price of $3.83.

Emeren Group Stock Performance

NYSE:SOL opened at $1.91 on Wednesday. Emeren Group has a fifty-two week low of $1.41 and a fifty-two week high of $3.00. The stock has a fifty day moving average price of $2.42 and a 200-day moving average price of $1.98. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.27 and a current ratio of 4.27. The company has a market cap of $97.90 million, a price-to-earnings ratio of -14.69 and a beta of 1.73.

Emeren Group (NYSE:SOL) last released its earnings results on Tuesday, August 20th. The semiconductor company reported $0.01 earnings per share 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 the consensus estimate of $21.10 million. Emeren Group had a negative return on equity of 3.15% and a negative net margin of 20.91%. During the same quarter in the previous year, the company earned $0.14 earnings per share. As a group, equities analysts anticipate that Emeren Group will post 0.33 EPS for the current fiscal year.

Insider Buying and Selling

In other Emeren Group news, Chairman Shah Capital Management purchased 26,843 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average cost of $1.83 per share, for a total transaction of $49,122.69. Following the transaction, the chairman now owns 18,655,151 shares in the company, valued at $34,138,926.33. The trade was a 0.14 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 37.31% of the stock is owned by corporate insiders.

Institutional Trading of Emeren Group

Several institutional investors have recently modified their holdings of SOL. Long Run Wealth Advisors LLC acquired a new position in Emeren Group during the 3rd quarter worth about $28,000. Mercer Global Advisors Inc. ADV increased its stake 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 valued at $72,000 after buying an additional 29,484 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of Emeren Group during the third quarter worth about $88,000. 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.