Emeren Group (NYSE:SOL) Downgraded by Northland Securities to Under Perform

Emeren Group (NYSE:SOL) was downgraded by analysts at Northland Securities from a “market perform” rating to an “under perform” rating in a research note issued to investors on Friday, Briefing.com reports.

SOL has been the subject of a number of other reports. StockNews.com upgraded shares of Emeren Group to a “sell” rating in a report on Monday, April 1st. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of Emeren Group in a research report on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Emeren Group has an average rating of “Hold” and a consensus price target of $5.80.

Emeren Group Stock Performance

Emeren Group stock opened at $2.09 on Friday. The firm has a 50 day simple moving average of $1.94 and a 200-day simple moving average of $2.17. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.40 and a quick ratio of 5.40. The stock has a market capitalization of $125.56 million, a PE ratio of -11.58 and a beta of 1.80. Emeren Group has a 12-month low of $1.54 and a 12-month high of $4.28.

Emeren Group (NYSE:SOL) last posted its quarterly earnings data on Thursday, March 28th. The semiconductor company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The company had revenue of $44.00 million during the quarter, compared to the consensus estimate of $39.22 million. Emeren Group had a negative net margin of 8.91% and a positive return on equity of 0.26%. As a group, equities research analysts expect that Emeren Group will post 0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Monaco Asset Management SAM grew its stake in Emeren Group by 40.6% in the 1st quarter. Monaco Asset Management SAM now owns 1,170,000 shares of the semiconductor company’s stock valued at $2,258,000 after buying an additional 337,650 shares during the last quarter. GSA Capital Partners LLP grew its stake in Emeren Group by 9.7% in the 1st quarter. GSA Capital Partners LLP now owns 747,448 shares of the semiconductor company’s stock valued at $1,443,000 after buying an additional 66,284 shares during the last quarter. Shah Capital Management acquired a new position in Emeren Group in the 4th quarter valued at $50,885,000. Quadrature Capital Ltd grew its stake in Emeren Group by 42.0% in the 3rd quarter. Quadrature Capital Ltd now owns 59,685 shares of the semiconductor company’s stock valued at $184,000 after buying an additional 17,659 shares during the last quarter. Finally, Alpine Global Management LLC acquired a new position in Emeren Group in the 3rd quarter valued at $62,000. Institutional investors own 44.08% of the company’s stock.

Emeren Group Company Profile

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.