Emeren Group (NYSE:SOL) Given “Buy” Rating at HC Wainwright

Emeren Group (NYSE:SOL)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a note issued to investors on Friday,Benzinga reports. They currently have a $7.00 price target on the semiconductor company’s stock. HC Wainwright’s price objective would indicate a potential upside of 250.00% from the stock’s previous close.

SOL has been the topic of several other reports. StockNews.com downgraded Emeren Group from a “hold” rating to a “sell” rating in a research report on Wednesday. Roth Mkm reissued a “buy” rating and issued a $3.00 target price on shares of Emeren Group in a report on Wednesday, August 21st. Three investment analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $3.83.

Emeren Group Price Performance

SOL opened at $2.00 on Friday. Emeren Group has a 1-year low of $1.41 and a 1-year high of $3.00. The company has a market capitalization of $102.52 million, a P/E ratio of -5.13 and a beta of 1.73. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.27 and a current ratio of 4.27. The company has a 50-day moving average of $2.42 and a 200-day moving average of $1.97.

Emeren Group (NYSE:SOL) last posted its quarterly earnings results on Tuesday, August 20th. The semiconductor company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). The company had revenue of $30.06 million for the quarter, compared to analyst estimates of $21.10 million. Emeren Group had a negative return on equity of 3.15% and a negative net margin of 20.91%. During the same quarter in the prior year, the business posted $0.14 earnings per share. Equities analysts expect that Emeren Group will post 0.33 EPS for the current fiscal year.

Insider Activity

In related news, Chairman Shah Capital Management bought 26,843 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average cost of $1.83 per share, with a total value of $49,122.69. Following the acquisition, the chairman now owns 18,655,151 shares of the company’s stock, valued at $34,138,926.33. This represents a 0.14 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 37.31% of the stock is owned by company insiders.

Institutional Trading of Emeren Group

An institutional investor recently raised its position in Emeren Group stock. Mercer Global Advisors Inc. ADV boosted its position in Emeren Group Ltd (NYSE:SOL) by 160.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 47,809 shares of the semiconductor company’s stock after acquiring an additional 29,484 shares during the period. Mercer Global Advisors Inc. ADV owned 0.08% of Emeren Group worth $72,000 as of its most recent SEC filing. 44.08% of the stock is owned by hedge funds and other institutional investors.

About Emeren Group

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.