Emeren Group (NYSE:SOL) Shares Pass Above 200-Day Moving Average - Time to Sell?

Key Points

• Emeren Group (NYSE:SOL) shares recently crossed above their two-hundred day moving average, reaching a high of $1.91 while last trading at $1.90.
• Analysts have downgraded the stock's rating from "hold" to "sell," with an average price target of $5.00; currently, the stock has an average rating of "Hold."
• The company's latest quarterly earnings report showed a revenue of $12.88 million, falling short of analysts' expectations of $18.57 million, with a negative net margin of 5.77%.

Emeren Group Ltd. Sponsored ADR (NYSE:SOL - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.72 and traded as high as $1.91. Emeren Group shares last traded at $1.90, with a volume of 569,063 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wall Street Zen downgraded shares of Emeren Group from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Emeren Group in a report on Saturday, September 27th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $5.00.

Emeren Group Price Performance

The stock has a market capitalization of $97.51 million, a PE ratio of -23.75 and a beta of 2.04. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.24 and a quick ratio of 4.24. The stock's fifty day moving average is $1.87 and its 200-day moving average is $1.72.

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

Institutional Trading of Emeren Group

Institutional investors have recently bought and sold shares of the business. XTX Topco Ltd purchased a new stake in shares of Emeren Group in the second quarter valued at approximately $44,000. Virtu Financial LLC acquired a new stake in Emeren Group in the 1st quarter valued at $47,000. Jane Street Group LLC purchased a new stake in Emeren Group in the 2nd quarter worth $179,000. Skandinaviska Enskilda Banken AB publ acquired a new position in Emeren Group during the second quarter worth $388,000. Finally, Monaco Asset Management SAM lifted its holdings in Emeren Group by 8.5% during 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 purchasing an additional 157,388 shares in the last quarter. 44.08% of the stock is owned by institutional investors and hedge funds.

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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