Emeren Group Ltd (NYSE:SOL) Given Average Rating of “Hold” by Brokerages

Emeren Group Ltd (NYSE:SOL) has been assigned an average recommendation of “Hold” from the four ratings firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $3.83.

SOL has been the subject of a number of analyst reports. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Emeren Group in a research report on Wednesday, August 21st. StockNews.com upgraded Emeren Group from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Roth Mkm restated a “buy” rating and set a $3.00 price objective on shares of Emeren Group in a research report on Wednesday, August 21st.

Insiders Place Their Bets

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

Institutional Trading of Emeren Group

A number of hedge funds and other institutional investors have recently modified their holdings of SOL. GSA Capital Partners LLP raised its stake in shares of Emeren Group by 9.7% in the 1st quarter. GSA Capital Partners LLP now owns 747,448 shares of the semiconductor company’s stock worth $1,443,000 after buying an additional 66,284 shares in the last quarter. Monaco Asset Management SAM raised its stake in shares of Emeren Group by 40.6% in the 1st quarter. Monaco Asset Management SAM now owns 1,170,000 shares of the semiconductor company’s stock worth $2,258,000 after buying an additional 337,650 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of Emeren Group by 160.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 47,809 shares of the semiconductor company’s stock worth $72,000 after buying an additional 29,484 shares in the last quarter. Institutional investors own 44.08% of the company’s stock.

Emeren Group Price Performance

Shares of SOL opened at $2.79 on Friday. The firm has a market cap of $168.03 million, a price-to-earnings ratio of -10.73 and a beta of 1.71. The stock has a 50 day moving average of $1.95 and a 200-day moving average of $1.86. The company has a current ratio of 4.27, a quick ratio of 4.27 and a debt-to-equity ratio of 0.07. Emeren Group has a 52 week low of $1.41 and a 52 week high of $3.21.

Emeren Group (NYSE:SOL) last released its quarterly earnings data on Tuesday, August 20th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Emeren Group had a negative net margin of 20.91% and a negative return on equity of 3.15%. The company had revenue of $30.06 million for the quarter, compared to analyst estimates of $21.10 million. During the same quarter in the prior year, the firm earned $0.14 EPS. As a group, analysts forecast that Emeren Group will post 0.27 EPS for the current year.

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.