Emeren Group (NYSE:SOL) Stock Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Emeren Group's stock crossed above its 200-day moving average of $1.73, reaching a high of $1.86 with a trading volume of 262,149 shares.
• Analysts have mixed views on Emeren Group, with two giving it a "Buy" rating and two a "Sell," leading to an average rating of "Hold" and a consensus price target of $5.00.
• Emeren Group recently announced a quarterly earnings report, recording a revenue of $12.88 million, which fell short of analyst estimates of $18.57 million.

Emeren Group Ltd. Sponsored ADR (NYSE:SOL - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.73 and traded as high as $1.86. Emeren Group shares last traded at $1.86, with a volume of 262,149 shares trading hands.

Analyst Upgrades and Downgrades

SOL has been the topic of several research reports. Wall Street Zen cut shares of Emeren Group from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Emeren Group in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $5.00.

Emeren Group Stock Up 1.9%

The firm has a market cap of $95.20 million, a P/E ratio of -23.19 and a beta of 2.04. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 0.17. The firm has a fifty day moving average of $1.87 and a 200-day moving average of $1.73.

Emeren Group (NYSE:SOL - Get Free Report) last released its earnings results on Tuesday, August 19th. The semiconductor company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.04. Emeren Group had a negative return on equity of 1.16% and a negative net margin of 5.77%.The business had revenue of $12.88 million for the quarter, compared to analyst estimates of $18.57 million. On average, equities research analysts anticipate that Emeren Group Ltd. Sponsored ADR will post 0.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SOL. XTX Topco Ltd acquired a new position in shares of Emeren Group during the 2nd quarter worth about $44,000. Virtu Financial LLC acquired a new position in shares of Emeren Group during the 1st quarter worth about $47,000. Jane Street Group LLC acquired a new position in shares of Emeren Group during the 2nd quarter worth about $179,000. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Emeren Group during the 2nd quarter worth about $388,000. Finally, Monaco Asset Management SAM increased its stake in shares of Emeren Group by 8.5% during the 1st quarter. Monaco Asset Management SAM now owns 2,005,152 shares of the semiconductor company's stock worth $3,148,000 after purchasing an additional 157,388 shares during the last quarter. 44.08% of the stock is currently 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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