Long Run Wealth Advisors LLC Invests $28,000 in Emeren Group Ltd (NYSE:SOL)

Long Run Wealth Advisors LLC acquired a new stake in shares of Emeren Group Ltd (NYSE:SOL) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 10,300 shares of the semiconductor company’s stock, valued at approximately $28,000.

Other large investors have also modified their holdings of the company. Mercer Global Advisors Inc. ADV boosted its position in shares of Emeren Group by 160.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 47,809 shares of the semiconductor company’s stock valued at $72,000 after acquiring an additional 29,484 shares in the last quarter. GSA Capital Partners LLP lifted its stake in Emeren Group by 9.7% during the first quarter. GSA Capital Partners LLP now owns 747,448 shares of the semiconductor company’s stock worth $1,443,000 after purchasing an additional 66,284 shares during the period. Finally, Monaco Asset Management SAM boosted its holdings in Emeren Group by 40.6% during the first quarter. Monaco Asset Management SAM now owns 1,170,000 shares of the semiconductor company’s stock valued at $2,258,000 after purchasing an additional 337,650 shares in the last quarter. 44.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. StockNews.com raised Emeren Group from a “sell” rating to a “hold” rating in a report on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of Emeren Group in a research report on Wednesday, August 21st. Finally, Roth Mkm reissued a “buy” rating and set a $3.00 price objective on shares of Emeren Group in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Emeren Group presently has an average rating of “Hold” and an average target price of $3.83.

Emeren Group Stock Performance

NYSE:SOL opened at $2.62 on Wednesday. The stock has a market capitalization of $134.04 million, a P/E ratio of -6.71 and a beta of 1.73. 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 Ltd has a 1 year low of $1.41 and a 1 year high of $3.00. The firm has a 50 day moving average of $2.39 and a 200-day moving average of $1.96.

Emeren Group (NYSE:SOL) last issued its quarterly earnings data 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). The business had revenue of $30.06 million during the quarter, compared to the consensus estimate of $21.10 million. Emeren Group had a negative net margin of 20.91% and a negative return on equity of 3.15%. During the same quarter in the previous year, the firm posted $0.14 EPS. As a group, sell-side analysts anticipate that Emeren Group Ltd will post 0.33 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Shah Capital Management acquired 26,843 shares of the stock in a transaction on Tuesday, September 3rd. The stock was purchased 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 $34,138,926.33. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 37.31% of the stock is owned by corporate insiders.

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.