Emeren Group Ltd (NYSE:SOL) Chairman Shah Capital Management Buys 12,710 Shares

Emeren Group Ltd (NYSE:SOL) Chairman Shah Capital Management acquired 12,710 shares of Emeren Group stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $1.77 per share, for a total transaction of $22,496.70. Following the purchase, the chairman now owns 18,755,172 shares of the company’s stock, valued at $33,196,654.44. This represents a 0.07 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Emeren Group Stock Performance

Emeren Group stock opened at $1.89 on Tuesday. Emeren Group Ltd has a 52 week low of $1.41 and a 52 week high of $3.00. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.10. The stock has a market cap of $96.88 million, a P/E ratio of -14.54 and a beta of 1.64. The stock has a 50 day moving average of $2.20 and a 200-day moving average of $1.97.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV lifted its position in shares of Emeren Group by 160.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 47,809 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 29,484 shares during the last quarter. Long Run Wealth Advisors LLC acquired a new stake in Emeren Group during the third quarter valued at approximately $28,000. Finally, XTX Topco Ltd acquired a new stake in Emeren Group during the third quarter valued at approximately $88,000. 44.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Emeren Group in a research report on Friday, November 15th. Roth Mkm reissued a “buy” rating and set a $3.00 target price on shares of Emeren Group in a research report on Wednesday, August 21st. BWS Financial restated a “sell” rating and issued a $6.00 target price on shares of Emeren Group in a research note on Monday. Finally, StockNews.com raised shares of Emeren Group from a “sell” rating to a “hold” rating in a research note on Thursday, November 21st. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.38.

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.