Emeren Group (NYSE:SOL) Given Sell (D-) Rating at Weiss Ratings

Key Points

• Emeren Group has received a "sell (D-)" rating from Weiss Ratings, highlighting concerns about the company's performance.
• Wall Street Zen has also downgraded Emeren Group from a "hold" to a "sell" rating, with consensus suggesting a price target of $5.00.
• The company's shares opened at $1.85 and have a market cap of approximately $94.94 million, indicating volatility in the stock's performance.

Emeren Group (NYSE:SOL - Get Free Report)'s stock had its "sell (d-)" rating restated by equities researchers at Weiss Ratings in a research report issued to clients and investors on Friday,Weiss Ratings reports.

Separately, Wall Street Zen cut Emeren Group from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $5.00.

Emeren Group Trading Down 0.5%

Shares of SOL opened at $1.85 on Friday. The stock's 50-day moving average is $1.87 and its two-hundred day moving average is $1.75. The stock has a market cap of $94.94 million, a PE ratio of -23.13 and a beta of 2.04. Emeren Group has a 12 month low of $1.04 and a 12 month high of $2.63. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.24 and a quick ratio of 4.24.

Emeren Group (NYSE:SOL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 19th. The semiconductor company reported $0.03 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.04. The company had revenue of $12.88 million for the quarter, compared to analysts' expectations of $18.57 million. Emeren Group had a negative return on equity of 1.16% and a negative net margin of 5.77%. Equities analysts forecast that Emeren Group will post 0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. XTX Topco Ltd acquired a new position in shares of Emeren Group in the second quarter worth about $44,000. Virtu Financial LLC acquired a new position in shares of Emeren Group in the first quarter worth about $47,000. Jane Street Group LLC bought a new stake in Emeren Group in the second quarter valued at about $179,000. Skandinaviska Enskilda Banken AB publ bought a new stake in Emeren Group in the second quarter valued at about $388,000. Finally, Monaco Asset Management SAM increased its holdings in Emeren Group by 8.5% in the first quarter. Monaco Asset Management SAM now owns 2,005,152 shares of the semiconductor company's stock valued at $3,148,000 after buying an additional 157,388 shares during the last quarter. Institutional investors and hedge funds own 44.08% of the company's stock.

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.

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