Emeren Group (NYSE:SOL) Upgraded at StockNews.com

StockNews.com upgraded shares of Emeren Group (NYSE:SOL) from a sell rating to a hold rating in a report issued on Thursday morning.

SOL has been the subject of several other reports. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Emeren Group in a research note on Friday, November 15th. Roth Mkm restated a “buy” rating and set a $3.00 target price on shares of Emeren Group in a report on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $3.83.

Emeren Group Price Performance

Shares of Emeren Group stock opened at $1.87 on Thursday. The firm has a market capitalization of $95.85 million, a PE ratio of -14.38 and a beta of 1.73. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.10. Emeren Group has a 12 month low of $1.41 and a 12 month high of $3.00. The business’s 50-day moving average price is $2.39 and its 200-day moving average price is $1.98.

Insiders Place Their Bets

In other Emeren Group news, Chairman Shah Capital Management acquired 26,843 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $1.83 per share, for a total transaction of $49,122.69. Following the acquisition, the chairman now owns 18,655,151 shares in the company, valued at $34,138,926.33. This represents a 0.14 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 37.31% of the company’s stock.

Institutional Trading of Emeren Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SOL. Mercer Global Advisors Inc. ADV increased its position in 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 purchasing an additional 29,484 shares during the period. Long Run Wealth Advisors LLC bought a new position in Emeren Group in the third quarter worth about $28,000. Finally, XTX Topco Ltd purchased a new stake in Emeren Group in the third quarter worth about $88,000. Hedge funds and other institutional investors own 44.08% of the company’s stock.

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.