Emeren Group (NYSE:SOL) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

Emeren Group Ltd. Sponsored ADR (NYSE:SOL)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.85 and traded as high as $1.93. Emeren Group shares last traded at $1.8950, with a volume of 635,613 shares trading hands.

Analyst Ratings Changes

SOL has been the topic of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Emeren Group in a report on Wednesday, October 8th. Wall Street Zen upgraded Emeren Group from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Two analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, Emeren Group currently has an average rating of “Hold” and a consensus target price of $5.00.

Emeren Group Stock Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.28 and a current ratio of 4.28. The firm has a market capitalization of $97.25 million, a PE ratio of -10.53 and a beta of 1.07. The firm’s 50 day moving average price is $1.83 and its 200-day moving average price is $1.85.

Institutional Trading of Emeren Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. XTX Topco Ltd acquired a new position in Emeren Group during the second quarter worth $44,000. Virtu Financial LLC acquired a new position in shares of Emeren Group during the 1st quarter worth about $47,000. Jane Street Group LLC acquired a new position in shares of Emeren Group during the 2nd quarter worth about $179,000. Citadel Advisors LLC raised its position in shares of Emeren Group by 31.9% during the 3rd quarter. Citadel Advisors LLC now owns 95,473 shares of the semiconductor company’s stock worth $180,000 after purchasing an additional 23,101 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in Emeren Group in the 2nd quarter worth about $388,000. 44.08% of the stock is currently owned by hedge funds and other institutional investors.

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.