Raymond James Financial Services Advisors Inc. Sells 83,207 Shares of Emeren Group Ltd (NYSE:SOL)

Raymond James Financial Services Advisors Inc. lessened its holdings in shares of Emeren Group Ltd (NYSE:SOL) by 74.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 28,218 shares of the semiconductor company’s stock after selling 83,207 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Emeren Group were worth $77,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. GSA Capital Partners LLP boosted its position in Emeren Group by 63.6% during the third quarter. GSA Capital Partners LLP now owns 537,216 shares of the semiconductor company’s stock worth $1,655,000 after purchasing an additional 208,937 shares during the period. Quadrature Capital Ltd boosted its position 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 during the period. Alpine Global Management LLC bought a new position in shares of Emeren Group in the third quarter valued at approximately $62,000. Aigen Investment Management LP boosted its position 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 during the period. Finally, Janney Montgomery Scott LLC bought a new position in shares of Emeren Group in the third quarter valued at approximately $44,000. Institutional investors own 44.08% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Emeren Group in a research report on Monday, April 1st. StockNews.com upgraded shares of Emeren Group to a “sell” rating in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.80.

Emeren Group Trading Down 1.6 %

Shares of Emeren Group stock opened at $1.81 on Friday. Emeren Group Ltd has a 1 year low of $1.54 and a 1 year high of $4.28. The firm has a market cap of $109.00 million, a PE ratio of -10.06 and a beta of 1.78. 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 company has a 50 day simple moving average of $2.01 and a two-hundred day simple moving average of $2.28.

Emeren Group (NYSE:SOL) last announced its earnings results 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). Emeren Group had a negative net margin of 8.91% and a positive return on equity of 0.26%. The company had revenue of $44.00 million for the quarter, compared to the consensus estimate of $39.22 million. Analysts expect that Emeren Group Ltd will post 0.38 earnings per share for the current fiscal year.

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.