Emeren Group (NYSE:SOL) Stock Rating Upgraded by StockNews.com

Emeren Group (NYSE:SOLGet Free Report) was upgraded by stock analysts at StockNews.com to a “sell” rating in a report released on Monday.

Separately, HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Emeren Group in a research report on Monday. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Emeren Group has an average rating of “Moderate Buy” and an average price target of $5.80.

Read Our Latest Research Report on SOL

Emeren Group Trading Up 1.3 %

Shares of NYSE:SOL opened at $2.37 on Monday. The company has a market cap of $142.72 million, a PE ratio of -13.17 and a beta of 1.78. The company’s 50-day moving average price is $1.98 and its 200 day moving average price is $2.40. Emeren Group has a fifty-two week low of $1.54 and a fifty-two week high of $4.54. The company has a quick ratio of 5.40, a current ratio of 5.40 and a debt-to-equity ratio of 0.06.

Institutional Trading of Emeren Group

A number of hedge funds and other institutional investors have recently made changes to their positions in SOL. Envestnet Asset Management Inc. bought a new stake in shares of Emeren Group during the 1st quarter worth about $64,000. Raymond James & Associates raised its holdings in shares of Emeren Group by 33.8% in the 1st quarter. Raymond James & Associates now owns 23,289 shares of the semiconductor company’s stock worth $135,000 after purchasing an additional 5,885 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Emeren Group by 17.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 18,634 shares of the semiconductor company’s stock worth $108,000 after purchasing an additional 2,769 shares in the last quarter. Ergoteles LLC bought a new stake in shares of Emeren Group in the 1st quarter worth approximately $229,000. Finally, Verition Fund Management LLC bought a new stake in shares of Emeren Group in the 1st quarter worth approximately $67,000. 44.08% of the stock is currently owned by institutional investors.

About Emeren Group

(Get Free Report)

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.

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