Emeren Group (NYSE:SOL) Cut to Sell at StockNews.com

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

Other equities research analysts also recently issued reports about the stock. BWS Financial restated a “sell” rating and set a $6.00 price objective on shares of Emeren Group in a research report on Monday, December 16th. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Emeren Group in a research note on Friday. Four equities research analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $4.38.

Emeren Group Price Performance

Shares of NYSE SOL opened at $1.19 on Friday. The stock has a market capitalization of $60.74 million, a price-to-earnings ratio of -9.12 and a beta of 1.70. The business has a 50-day moving average of $1.77 and a 200-day moving average of $2.04. 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 has a fifty-two week low of $1.04 and a fifty-two week high of $3.00.

Emeren Group (NYSE:SOL) last posted its quarterly earnings results on Thursday, March 13th. The semiconductor company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.31). Emeren Group had a negative return on equity of 2.05% and a negative net margin of 7.14%. The business had revenue of $34.60 million for the quarter, compared to the consensus estimate of $40.13 million. During the same quarter in the previous year, the business posted ($0.15) EPS. As a group, sell-side analysts predict that Emeren Group will post 0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Emeren Group

Several hedge funds and other institutional investors have recently bought and sold shares of SOL. Apollon Wealth Management LLC raised its holdings in shares of Emeren Group by 45.5% during the fourth quarter. Apollon Wealth Management LLC now owns 29,100 shares of the semiconductor company’s stock valued at $59,000 after purchasing an additional 9,100 shares during the period. XTX Topco Ltd purchased a new stake in Emeren Group in the 3rd quarter valued at about $88,000. Raymond James Financial Inc. purchased a new stake in Emeren Group in the 4th quarter valued at about $80,000. Shah Capital Management increased its stake in shares of Emeren Group by 0.4% during the 4th quarter. Shah Capital Management now owns 18,818,236 shares of the semiconductor company’s stock worth $38,201,000 after purchasing an additional 69,374 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Emeren Group by 26.5% during the 4th quarter. Invesco Ltd. now owns 792,148 shares of the semiconductor company’s stock worth $1,608,000 after purchasing an additional 165,902 shares during the last quarter. Institutional investors and hedge funds own 44.08% of the company’s stock.

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.