Emeren Group's (SOL) "Sell (D-)" Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reiterated a "Sell (D-)" rating for Emeren Group (NYSE:SOL), signaling continued bearish sentiment towards the company's stock.
• The stock's price decreased to $1.88 during trading on Wednesday, and it has seen a 1-year low of $1.04 and a 1-year high of $2.75.
• Emeren Group reported a surprise earnings per share (EPS) of $0.03 for the last quarter, exceeding analysts' expectations, but its revenue fell short, coming in at $12.88 million compared to estimates of $18.57 million.

Emeren Group (NYSE:SOL - Get Free Report)'s stock had its "sell (d-)" rating reissued by stock analysts at Weiss Ratings in a research note issued on Wednesday,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 analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $5.00.

Emeren Group Price Performance

Shares of NYSE:SOL traded down $0.02 during mid-day trading on Wednesday, reaching $1.88. The stock had a trading volume of 171,227 shares, compared to its average volume of 176,896. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 0.17. The company has a market cap of $96.23 million, a P/E ratio of -23.44 and a beta of 2.04. Emeren Group has a 1 year low of $1.04 and a 1 year high of $2.75. The business's 50 day moving average price is $1.87 and its 200 day moving average price is $1.72.

Emeren Group (NYSE:SOL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 19th. The semiconductor company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $18.57 million. Research analysts expect that Emeren Group will post 0.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Emeren Group

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

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.

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