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

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

A number of other equities analysts have also issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Emeren Group in a research note on Wednesday, August 21st. Roth Mkm restated a “buy” rating and set a $3.00 price objective on shares of Emeren Group in a research report on Wednesday, August 21st. Three investment analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Emeren Group has a consensus rating of “Hold” and an average price target of $3.83.

Emeren Group Trading Up 2.0 %

NYSE:SOL opened at $2.06 on Wednesday. The stock has a market cap of $105.60 million, a price-to-earnings ratio of -5.28 and a beta of 1.73. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.27 and a current ratio of 4.27. Emeren Group has a 1 year low of $1.41 and a 1 year high of $3.00. The business has a fifty day moving average of $2.42 and a 200-day moving average of $1.97.

Emeren Group (NYSE:SOL) last announced its earnings results on Tuesday, August 20th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The company had revenue of $30.06 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the company earned $0.14 EPS. Equities analysts predict that Emeren Group will post 0.33 earnings per share for the current year.

Insider Buying and Selling

In other news, Chairman Shah Capital Management bought 26,843 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $1.83 per share, for a total transaction of $49,122.69. Following the completion of the acquisition, the chairman now directly owns 18,655,151 shares in the company, valued at $34,138,926.33. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 37.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Emeren Group stock. Long Run Wealth Advisors LLC bought a new stake in shares of Emeren Group Ltd (NYSE:SOL) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. 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 institutional investors and hedge funds.

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.