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

Emeren Group (NYSE:SOL) was upgraded by StockNews.com to a “sell” rating in a research report issued to clients and investors on Friday.

SOL has been the topic of a number of other research reports. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Emeren Group in a research note on Friday. Northland Securities lowered Emeren Group from a “market perform” rating to an “under perform” rating and set a $1.50 target price for the company. in a report on Friday. Two equities research analysts have rated the stock with a sell rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $5.38.

Emeren Group Price Performance

Shares of SOL traded down $0.15 during mid-day trading on Friday, hitting $1.95. The company’s stock had a trading volume of 580,988 shares, compared to its average volume of 490,350. The company has a current ratio of 5.40, a quick ratio of 5.40 and a debt-to-equity ratio of 0.06. The firm has a 50-day simple moving average of $1.94 and a 200 day simple moving average of $2.16. The firm has a market capitalization of $117.43 million, a P/E ratio of -10.83 and a beta of 1.80. Emeren Group has a 1-year low of $1.54 and a 1-year high of $4.28.

Emeren Group (NYSE:SOL) last released its quarterly earnings results on Thursday, March 28th. The semiconductor company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The company had revenue of $44.00 million for the quarter, compared to analysts’ expectations of $39.22 million. Emeren Group had a positive return on equity of 0.26% and a negative net margin of 8.91%. Analysts predict that Emeren Group will post 0.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Emeren Group

Large investors have recently modified their holdings of the stock. Alpine Global Management LLC bought a new stake in shares of Emeren Group during the 3rd quarter worth $62,000. Shah Capital Management acquired a new stake in shares of Emeren Group in the fourth quarter worth $50,885,000. Quadrature Capital Ltd boosted its position in shares of Emeren Group by 42.0% in the third quarter. Quadrature Capital Ltd now owns 59,685 shares of the semiconductor company’s stock worth $184,000 after buying an additional 17,659 shares during the period. Monaco Asset Management SAM boosted its position in shares of Emeren Group by 49.6% in the fourth quarter. Monaco Asset Management SAM now owns 832,350 shares of the semiconductor company’s stock worth $2,272,000 after buying an additional 276,023 shares during the period. Finally, Aigen Investment Management LP boosted its position in shares of Emeren Group by 74.1% in the third quarter. Aigen Investment Management LP now owns 19,737 shares of the semiconductor company’s stock worth $61,000 after buying an additional 8,401 shares during the period. 44.08% of the stock is owned by institutional investors.

Emeren Group Company Profile

Emeren Group Ltd, through its subsidiaries, develops, builds, operates, and sells solar power projects. It owns and operates 3 gigawatt pipeline of projects and independent power producer assets. The company also develops community solar gardens; and sells project rights. In addition, it engages in engineering design; procurement of solar modules; balance-of-system components and other components; and construction contracting and management services.