Wall Street Zen Downgrades Emeren Group (NYSE:SOL) to Sell

Key Points

• Emeren Group was downgraded from a "hold" to a "sell" rating by Wall Street Zen, indicating a bearish outlook for the company's stock.
• The company reported a negative net margin of 5.77% and had a quarterly revenue of $12.88 million, which fell short of analyst estimates.
• Emeren Group's stock currently has a market capitalization of $96.23 million and has fluctuated between a 52-week low of $1.0401 and a high of $3.00.

Emeren Group (NYSE:SOL - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Friday.

Emeren Group Price Performance

Shares of Emeren Group stock opened at $1.8750 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.03 and a current ratio of 4.24. Emeren Group has a 52-week low of $1.0401 and a 52-week high of $3.00. The company has a fifty day moving average of $1.88 and a 200-day moving average of $1.66. The stock has a market capitalization of $96.23 million, a price-to-earnings ratio of -23.44 and a beta of 2.12.

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

Institutional Investors Weigh In On Emeren Group

Several institutional investors have recently added to or reduced their stakes in SOL. XTX Topco Ltd purchased a new position in shares of Emeren Group in the second quarter valued at about $44,000. Virtu Financial LLC bought a new stake in shares of Emeren Group in the first quarter worth about $47,000. Raymond James Financial Inc. purchased a new position in Emeren Group during the 4th quarter valued at about $80,000. Jane Street Group LLC bought a new position in Emeren Group during the 2nd quarter valued at approximately $179,000. Finally, Skandinaviska Enskilda Banken AB publ purchased a new stake in Emeren Group in the 2nd quarter worth approximately $388,000. Hedge funds and other institutional investors own 44.08% of the company's stock.

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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