Emeren Group (NYSE:SOL) Cut to Under Perform at Northland Securities

Northland Securities lowered shares of Emeren Group (NYSE:SOL) from a market perform rating to an under perform rating in a research report report published on Friday, MarketBeat Ratings reports. Northland Securities currently has $1.50 target price on the semiconductor company’s stock.

Several other research firms have also commented on SOL. StockNews.com raised shares of Emeren Group to a sell rating in a research note on Monday, April 1st. HC Wainwright reiterated a buy rating and set a $7.00 target price on shares of Emeren Group in a research report on Monday, April 1st. Three investment 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. Based on data from MarketBeat.com, Emeren Group currently has a consensus rating of Hold and a consensus price target of $5.38.

Emeren Group Trading Down 7.1 %

SOL stock opened at $1.95 on Friday. The firm has a fifty day moving average price of $1.94 and a 200 day moving average price of $2.16. Emeren Group has a fifty-two week low of $1.54 and a fifty-two week high of $4.28. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.40 and a current ratio of 5.40. The firm has a market cap of $117.43 million, a PE ratio of -7.50 and a beta of 1.80.

Emeren Group (NYSE:SOL) last posted its quarterly earnings data on Thursday, March 28th. The semiconductor company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The firm had revenue of $44.00 million for the quarter, compared to analysts’ expectations of $39.22 million. Emeren Group had a negative return on equity of 0.88% and a negative net margin of 12.70%. Sell-side analysts anticipate that Emeren Group will post 0.3 earnings per share for the current fiscal year.

Institutional Trading of Emeren Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Emeren Group in the third quarter valued at about $36,000. Janney Montgomery Scott LLC bought a new stake in shares of Emeren Group in the third quarter valued at about $44,000. Aigen Investment Management LP raised its holdings in shares of Emeren Group by 74.1% in the third quarter. Aigen Investment Management LP now owns 19,737 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 8,401 shares in the last quarter. Alpine Global Management LLC bought a new stake in shares of Emeren Group in the third quarter valued at about $62,000. Finally, Quadrature Capital Ltd raised its holdings in shares of Emeren Group by 42.0% in the third quarter. Quadrature Capital Ltd now owns 59,685 shares of the semiconductor company’s stock valued at $184,000 after acquiring an additional 17,659 shares in the last quarter. 44.08% of the stock is currently owned by institutional investors.

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.