Emeren Group (NYSE:SOL) Releases Earnings Results, Misses Expectations By $0.31 EPS

Emeren Group (NYSE:SOL) posted its quarterly earnings results on Thursday. The semiconductor company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.31), RTT News reports. Emeren Group had a negative return on equity of 2.05% and a negative net margin of 7.14%. During the same period in the previous year, the business posted ($0.15) earnings per share.

Emeren Group Stock Performance

Emeren Group stock traded up $0.07 during midday trading on Thursday, hitting $1.46. The stock had a trading volume of 593,418 shares, compared to its average volume of 283,567. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.10. Emeren Group has a 52-week low of $1.31 and a 52-week high of $3.00. The company has a market capitalization of $74.83 million, a PE ratio of -11.23 and a beta of 1.70. The firm’s fifty day moving average is $1.80 and its two-hundred day moving average is $2.05.

Analyst Upgrades and Downgrades

SOL has been the subject of several research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Emeren Group in a report on Friday, November 15th. StockNews.com raised Emeren Group from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. Finally, BWS Financial reissued a “sell” rating and issued a $6.00 target price on shares of Emeren Group in a report on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $4.38.

Emeren Group Company Profile

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.