Emeren Group (NYSE:SOL) Lowered 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 report published on Friday.

A number of other analysts also recently issued reports on SOL. BWS Financial reiterated a “sell” rating and issued a $6.00 price target on shares of Emeren Group in a report on Monday, December 16th. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of Emeren Group in a report on Friday. Four investment analysts have rated the stock with a sell rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $4.38.

Emeren Group Stock Down 19.4 %

SOL opened at $1.19 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.34 and a current ratio of 4.34. Emeren Group has a fifty-two week low of $1.04 and a fifty-two week high of $3.00. The firm’s fifty day moving average is $1.79 and its 200 day moving average is $2.05. The stock has a market cap of $60.74 million, a price-to-earnings ratio of -9.12 and a beta of 1.70.

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

Institutional Trading of Emeren Group

A number of large investors have recently made changes to their positions in the business. Shah Capital Management increased its holdings in shares of Emeren Group by 0.4% in the 4th quarter. Shah Capital Management now owns 18,818,236 shares of the semiconductor company’s stock worth $38,201,000 after buying an additional 69,374 shares during the last quarter. Monaco Asset Management SAM increased its holdings in shares of Emeren Group by 35.7% in the 4th quarter. Monaco Asset Management SAM now owns 1,847,764 shares of the semiconductor company’s stock worth $3,751,000 after buying an additional 486,063 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Emeren Group by 26.5% in the 4th quarter. Invesco Ltd. now owns 792,148 shares of the semiconductor company’s stock worth $1,608,000 after buying an additional 165,902 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Emeren Group in the 4th quarter worth about $80,000. Finally, XTX Topco Ltd bought a new stake in shares of Emeren Group in the 3rd quarter worth about $88,000. 44.08% of the stock is currently owned by institutional investors.

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.