Emeren Group (NYSE:SOL) Upgraded by StockNews.com to Sell

Emeren Group (NYSE:SOL - Get Free Report) was upgraded by research analysts at StockNews.com to a "sell" rating in a report released on Monday.

Separately, HC Wainwright restated a "buy" rating and issued a $7.00 price target on shares of Emeren Group in a research note on Monday. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.80.

Emeren Group Stock Up 22.0 %

NYSE:SOL traded up $0.43 during midday trading on Monday, reaching $2.36. The company had a trading volume of 2,550,391 shares, compared to its average volume of 556,218. The firm has a market capitalization of $141.82 million, a price-to-earnings ratio of -13.08 and a beta of 1.78. The stock's fifty day simple moving average is $1.97 and its 200-day simple moving average is $2.40. Emeren Group has a 12-month low of $1.54 and a 12-month high of $4.54. The company has a current ratio of 5.40, a quick ratio of 5.40 and a debt-to-equity ratio of 0.06.

Institutional Trading of Emeren Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. increased its position in shares of Emeren Group by 17.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 18,634 shares of the semiconductor company's stock worth $108,000 after purchasing an additional 2,769 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Emeren Group by 1.0% during the third quarter. BlackRock Inc. now owns 374,007 shares of the semiconductor company's stock worth $1,885,000 after buying an additional 3,764 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Emeren Group by 33.8% during the first quarter. Raymond James & Associates now owns 23,289 shares of the semiconductor company's stock worth $135,000 after buying an additional 5,885 shares during the last quarter. Vident Investment Advisory LLC grew its holdings in shares of Emeren Group by 23.9% during the first quarter. Vident Investment Advisory LLC now owns 40,676 shares of the semiconductor company's stock worth $236,000 after buying an additional 7,859 shares during the last quarter. Finally, Aigen Investment Management LP grew its holdings in shares of Emeren Group by 74.1% during the third quarter. Aigen Investment Management LP now owns 19,737 shares of the semiconductor company's stock worth $61,000 after buying an additional 8,401 shares during the last quarter. Institutional investors and hedge funds own 44.08% of the company's stock.

About Emeren Group

Emeren Group Ltd, through its subsidiaries, develops, builds, operates, and sells solar power projects. It owns and operates 3 gigawatt pipeline of projects and independent power producer assets. The company also develops community solar gardens; and sells project rights. In addition, it engages in engineering design; procurement of solar modules; balance-of-system components and other components; and construction contracting and management services.

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