Emeren Group (NYSE:SOL) Share Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Emeren Group Ltd (NYSE:SOL - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.70 and traded as high as $1.80. Emeren Group shares last traded at $1.80, with a volume of 158,128 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. HC Wainwright reissued a "buy" rating and set a $7.00 price objective on shares of Emeren Group in a research report on Friday, March 14th. Roth Mkm lowered their price target on shares of Emeren Group from $3.00 to $2.00 and set a "buy" rating for the company in a report on Monday, March 17th. Finally, Wall Street Zen lowered shares of Emeren Group from a "hold" rating to a "sell" rating in a report on Friday, March 14th.

Emeren Group Price Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 4.34 and a quick ratio of 4.34. The company has a 50 day moving average price of $1.47 and a 200 day moving average price of $1.69. The firm has a market cap of $86.22 million, a PE ratio of -12.92 and a beta of 2.19.

Emeren Group (NYSE:SOL - Get Free Report) last posted its quarterly earnings results on Thursday, March 13th. The semiconductor company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.31). Emeren Group had a negative return on equity of 2.05% and a negative net margin of 7.14%. The firm had revenue of $34.60 million for the quarter, compared to analysts' expectations of $40.13 million. During the same period in the prior year, the company earned ($0.15) earnings per share. Sell-side analysts expect that Emeren Group Ltd will post 0.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Emeren Group

Institutional investors and hedge funds have recently modified their holdings of the company. Apollon Wealth Management LLC raised its holdings in Emeren Group by 45.5% during the fourth quarter. Apollon Wealth Management LLC now owns 29,100 shares of the semiconductor company's stock worth $59,000 after purchasing an additional 9,100 shares during the last quarter. Virtu Financial LLC acquired a new stake in Emeren Group in the first quarter valued at $47,000. Raymond James Financial Inc. purchased a new position in shares of Emeren Group in the fourth quarter valued at $80,000. Monaco Asset Management SAM increased its position in shares of 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 in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Emeren Group by 26.5% during the 4th quarter. Invesco Ltd. now owns 792,148 shares of the semiconductor company's stock worth $1,608,000 after buying an additional 165,902 shares during the last quarter. 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.