Emeren Group (NYSE:SOL) Downgraded to “Sell” Rating by StockNews.com

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

SOL has been the topic of a number of other research reports. HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of Emeren Group in a research report on Friday. BWS Financial reiterated a “sell” rating and set a $6.00 target price on shares of Emeren Group in a research report on Monday, December 16th. Four research analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Emeren Group has a consensus rating of “Hold” and a consensus price target of $4.38.

Emeren Group Stock Down 19.4 %

Shares of NYSE SOL opened at $1.19 on Friday. The company has a market capitalization of $60.74 million, a P/E ratio of -9.12 and a beta of 1.70. Emeren Group has a 52-week low of $1.04 and a 52-week high of $3.00. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.34 and a current ratio of 4.34. The company’s 50 day moving average price is $1.77 and its 200-day moving average price is $2.04.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SOL. Monaco Asset Management SAM lifted its position in shares of Emeren Group by 35.7% during the 4th quarter. Monaco Asset Management SAM now owns 1,847,764 shares of the semiconductor company’s stock valued at $3,751,000 after acquiring an additional 486,063 shares during the period. Invesco Ltd. increased its stake in Emeren Group by 26.5% during the 4th quarter. Invesco Ltd. now owns 792,148 shares of the semiconductor company’s stock valued at $1,608,000 after purchasing an additional 165,902 shares in the last quarter. Shah Capital Management increased its stake in Emeren Group by 0.4% during the 4th quarter. Shah Capital Management now owns 18,818,236 shares of the semiconductor company’s stock valued at $38,201,000 after purchasing an additional 69,374 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Emeren Group during the 4th quarter valued at $80,000. Finally, XTX Topco Ltd bought a new stake in Emeren Group during the 3rd quarter valued at $88,000. Institutional investors and hedge funds 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.