Emeren Group Ltd (NYSE:SOL) Receives Average Recommendation of “Hold” from Analysts

Emeren Group Ltd (NYSE:SOL) has been given a consensus rating of “Hold” by the five brokerages that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $4.88.

A number of research analysts recently weighed in on the stock. Northland Capmk lowered shares of Emeren Group from a “hold” rating to a “strong sell” rating in a research report on Friday, May 24th. StockNews.com raised shares of Emeren Group to a “sell” rating in a research report on Friday, May 24th. Northland Securities lowered Emeren Group from a “market perform” rating to an “under perform” rating and set a $1.50 target price for the company. in a report on Friday, May 24th. Roth Mkm reiterated a “buy” rating and set a $3.00 price target on shares of Emeren Group in a report on Wednesday, August 21st. Finally, HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Emeren Group in a research report on Wednesday, August 21st.

Insider Buying and Selling

In other news, Chairman Shah Capital Management acquired 26,843 shares of Emeren Group stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average cost of $1.83 per share, with a total value of $49,122.69. Following the completion of the acquisition, the chairman now owns 18,655,151 shares in the company, valued at $34,138,926.33. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 18.02% of the stock is currently owned by insiders.

Institutional Trading of Emeren Group

A number of institutional investors have recently modified their holdings of SOL. Mercer Global Advisors Inc. ADV grew its position in shares of Emeren Group by 160.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 47,809 shares of the semiconductor company’s stock valued at $72,000 after purchasing an additional 29,484 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in Emeren Group by 9.7% in the 1st quarter. GSA Capital Partners LLP now owns 747,448 shares of the semiconductor company’s stock valued at $1,443,000 after purchasing an additional 66,284 shares during the period. Finally, Monaco Asset Management SAM grew its position in shares of Emeren Group by 49.6% during the 4th quarter. Monaco Asset Management SAM now owns 832,350 shares of the semiconductor company’s stock valued at $2,272,000 after purchasing an additional 276,023 shares in the last quarter. 44.08% of the stock is currently owned by hedge funds and other institutional investors.

Emeren Group Stock Performance

Shares of SOL opened at $1.90 on Monday. The firm has a market capitalization of $97.39 million, a P/E ratio of -7.31 and a beta of 1.71. Emeren Group has a 52 week low of $1.41 and a 52 week high of $3.34. The stock has a 50 day moving average price of $1.71 and a two-hundred day moving average price of $1.82. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.27 and a current ratio of 4.27.

Emeren Group (NYSE:SOL) last announced its quarterly earnings results on Tuesday, August 20th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). Emeren Group had a negative return on equity of 3.15% and a negative net margin of 20.91%. The company had revenue of $30.06 million for the quarter, compared to the consensus estimate of $21.10 million. During the same quarter last year, the company posted $0.14 EPS. Equities analysts forecast that Emeren Group will post 0.27 earnings per share for the current fiscal year.

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.