Emeren Group (NYSE:SOL) Upgraded at StockNews.com

StockNews.com upgraded shares of Emeren Group (NYSE:SOL) from a sell rating to a hold rating in a report issued on Tuesday morning.

Other analysts also recently issued research reports about the company. Roth Mkm reiterated a “buy” rating and set a $3.00 price target on shares of Emeren Group in a research note on Wednesday, August 21st. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of Emeren Group in a research report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $3.83.

Emeren Group Price Performance

Shares of SOL stock opened at $2.20 on Tuesday. Emeren Group has a 12-month low of $1.41 and a 12-month high of $3.00. The business’s fifty day simple moving average is $2.40 and its 200-day simple moving average is $1.96. The company has a quick ratio of 4.27, a current ratio of 4.27 and a debt-to-equity ratio of 0.07.

Emeren Group (NYSE:SOL) last released its quarterly earnings results on Tuesday, August 20th. The semiconductor company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Emeren Group had a negative net margin of 20.91% and a negative return on equity of 3.15%. The business 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 posted $0.14 earnings per share. As a group, analysts expect that Emeren Group will post 0.33 earnings per share for the current year.

Insider Activity

In related news, Chairman Shah Capital Management purchased 26,843 shares of Emeren Group stock in a transaction that occurred 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 transaction, the chairman now owns 18,655,151 shares in the company, valued at $34,138,926.33. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 37.31% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SOL. Long Run Wealth Advisors LLC acquired a new stake in shares of Emeren Group during the 3rd quarter valued at about $28,000. Mercer Global Advisors Inc. ADV increased its position 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 in the last quarter. Monaco Asset Management SAM raised its stake in shares of Emeren Group by 40.6% during the 1st quarter. Monaco Asset Management SAM now owns 1,170,000 shares of the semiconductor company’s stock worth $2,258,000 after buying an additional 337,650 shares during the period. Finally, GSA Capital Partners LLP lifted its position in shares of Emeren Group by 9.7% during the 1st quarter. GSA Capital Partners LLP now owns 747,448 shares of the semiconductor company’s stock valued at $1,443,000 after buying an additional 66,284 shares in the last quarter. Hedge funds and other institutional investors 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.