Emeren Group (NYSE:SOL) Rating Increased to Hold at StockNews.com

Emeren Group (NYSE:SOL) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

SOL has been the subject of a number of other research reports. 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. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of Emeren Group in a research note on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Emeren Group has a consensus rating of “Hold” and a consensus target price of $3.83.

Emeren Group Stock Performance

Shares of SOL opened at $2.87 on Thursday. Emeren Group has a 12 month low of $1.41 and a 12 month high of $3.21. The firm has a fifty day simple moving average of $1.97 and a 200 day simple moving average of $1.87. The stock has a market capitalization of $172.85 million, a price-to-earnings ratio of -10.81 and a beta of 1.71. The company has a current ratio of 4.27, a quick ratio of 4.27 and a debt-to-equity ratio of 0.07.

Emeren Group (NYSE:SOL) last announced 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). The firm had revenue of $30.06 million during the quarter, compared to analyst estimates 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 business earned $0.14 EPS. Research analysts forecast that Emeren Group will post 0.27 EPS for the current fiscal year.

Insider Activity

In related news, Chairman Shah Capital Management acquired 26,843 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $1.83 per share, with a total value of $49,122.69. Following the completion of the transaction, the chairman now directly owns 18,655,151 shares of the company’s stock, valued at $34,138,926.33. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 18.02% of the company’s stock.

Hedge Funds Weigh In On Emeren Group

Large investors have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV raised its stake in Emeren Group by 160.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 47,809 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 29,484 shares in the last quarter. GSA Capital Partners LLP increased its holdings in shares of Emeren Group by 9.7% during the first quarter. GSA Capital Partners LLP now owns 747,448 shares of the semiconductor company’s stock worth $1,443,000 after purchasing an additional 66,284 shares during the period. Finally, Monaco Asset Management SAM increased its holdings in shares of Emeren Group by 40.6% during the first quarter. Monaco Asset Management SAM now owns 1,170,000 shares of the semiconductor company’s stock worth $2,258,000 after purchasing an additional 337,650 shares during the period. 44.08% of the stock is owned by institutional investors.

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.