Emeren Group (NYSE:SOL – Get Rating) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.
Emeren Group Stock Performance
Shares of NYSE:SOL traded down $0.03 during trading on Friday, hitting $3.80. The stock had a trading volume of 288,868 shares, compared to its average volume of 346,921. Emeren Group has a 12-month low of $3.68 and a 12-month high of $7.50. The stock has a market capitalization of $228.86 million, a price-to-earnings ratio of 42.22 and a beta of 2.00. The company has a quick ratio of 6.23, a current ratio of 5.33 and a debt-to-equity ratio of 0.06. The stock has a 50-day simple moving average of $4.15 and a two-hundred day simple moving average of $4.55.
Emeren Group (NYSE:SOL – Get Rating) last announced its quarterly earnings data on Tuesday, March 28th. The semiconductor company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). Emeren Group had a return on equity of 0.88% and a net margin of 7.25%. The company had revenue of $40.80 million for the quarter, compared to analysts’ expectations of $46.59 million. On average, equities research analysts expect that Emeren Group will post 0.31 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Emeren Group
A number of large investors have recently bought and sold shares of the stock. PFG Investments LLC acquired a new position in Emeren Group in the first quarter worth about $45,000. Stephens Inc. AR bought a new position in shares of Emeren Group in the third quarter valued at $50,000. Alliancebernstein L.P. bought a new position in shares of Emeren Group in the third quarter valued at $55,000. Envestnet Asset Management Inc. purchased a new position in Emeren Group during the 1st quarter worth approximately $64,000. Finally, Verition Fund Management LLC purchased a new position in shares of Emeren Group during the 1st quarter valued at $67,000.
About Emeren Group
Emeren Group Ltd. is a pure solar project developer and operator. The firm is focused on solar power project development, construction management, and project financing services. Its projects include U.S. RP-MN portfolio, Siedliska, Membury, Field House, Zhejiang, and Jiangsu. The company was founded in 2005 and is headquartered in Stamford, CT.