Emeren Group (NYSE:SOL) Upgraded by StockNews.com to Sell

StockNews.com upgraded shares of Emeren Group (NYSE:SOLFree Report) to a sell rating in a research note released on Friday.

Several other brokerages also recently commented on SOL. HC Wainwright restated a buy rating and issued a $7.00 price objective on shares of Emeren Group in a research report 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. Three equities research analysts have rated the stock with a sell rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Emeren Group has an average rating of Hold and an average price target of $5.38.

Get Our Latest Analysis on Emeren Group

Emeren Group Price Performance

NYSE:SOL traded down $0.15 during mid-day trading on Friday, reaching $1.95. The stock had a trading volume of 581,001 shares, compared to its average volume of 227,295. The stock has a 50-day simple moving average of $1.94 and a two-hundred day simple moving average of $2.16. The stock has a market capitalization of $117.43 million, a PE ratio of -7.50 and a beta of 1.80. Emeren Group has a 12 month low of $1.54 and a 12 month high of $4.28. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.40 and a quick ratio of 5.40.

Emeren Group (NYSE:SOLGet Free Report) last posted its quarterly earnings data on Thursday, March 28th. The semiconductor company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). The company had revenue of $44.00 million for the quarter, compared to the consensus estimate of $39.22 million. Emeren Group had a negative return on equity of 0.88% and a negative net margin of 12.70%. On average, equities analysts anticipate that Emeren Group will post 0.38 earnings per share for the current year.

Hedge Funds Weigh In On Emeren Group

Several institutional investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. lifted its position in Emeren Group by 39.7% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 111,425 shares of the semiconductor company’s stock valued at $343,000 after purchasing an additional 31,660 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Emeren Group during the third quarter worth $36,000. Monaco Asset Management SAM increased its position in Emeren Group by 101.3% during the 3rd quarter. Monaco Asset Management SAM now owns 556,327 shares of the semiconductor company’s stock valued at $1,713,000 after buying an additional 280,000 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in Emeren Group during the third quarter worth approximately $44,000. Finally, Aigen Investment Management LP raised its holdings in shares of Emeren Group by 74.1% during the 3rd quarter. Aigen Investment Management LP now owns 19,737 shares of the semiconductor company’s stock worth $61,000 after acquiring an additional 8,401 shares during the period. 44.08% of the stock is owned by institutional investors.

Emeren Group Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Emeren Group (NYSE:SOL)

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