Emeren Group (NYSE:SOL) Lowered to "Sell" Rating by Wall Street Zen

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 analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Friday.

Emeren Group Stock Performance

Shares of SOL stock traded down $0.01 during trading hours on Friday, reaching $1.84. The company had a trading volume of 130,957 shares, compared to its average volume of 144,499. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.24 and a current ratio of 4.24. The business has a fifty day moving average price of $1.89 and a 200-day moving average price of $1.66. Emeren Group has a one year low of $1.04 and a one year high of $3.00. The firm has a market cap of $94.17 million, a PE ratio of -22.94 and a beta of 2.12.

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 for the quarter, beating analysts' consensus estimates of ($0.01) by $0.04. Emeren Group had a negative net margin of 5.77% and a negative return on equity of 1.16%. The company had revenue of $12.88 million for the quarter, compared to the consensus estimate of $18.57 million. Sell-side analysts predict that Emeren Group will post 0.1 earnings per share for the current fiscal year.

Institutional Trading of Emeren Group

A number of hedge funds have recently bought and sold shares of the company. Invesco Ltd. lifted its holdings in Emeren Group by 26.5% in the fourth quarter. Invesco Ltd. now owns 792,148 shares of the semiconductor company's stock valued at $1,608,000 after acquiring an additional 165,902 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Emeren Group during the 4th quarter valued at about $80,000. Monaco Asset Management SAM increased its position 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 valued at $3,148,000 after purchasing an additional 157,388 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Emeren Group in the 1st quarter worth approximately $47,000. Finally, XTX Topco Ltd purchased a new position in shares of Emeren Group in the second quarter worth approximately $44,000. Hedge funds and other institutional investors 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.