Emeren Group Ltd (NYSE:SOL) Receives $4.13 Average Target Price from Brokerages

Emeren Group Ltd (NYSE:SOL) has earned an average rating of “Reduce” from the five analysts that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating and two have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $4.13.

SOL has been the subject of several research analyst reports. StockNews.com downgraded Emeren Group from a “hold” rating to a “sell” rating in a report on Friday, March 14th. BWS Financial reiterated a “sell” rating and issued a $6.00 price target on shares of Emeren Group in a research note on Monday, December 16th. Roth Mkm decreased their price objective on shares of Emeren Group from $3.00 to $2.00 and set a “buy” rating for the company in a report on Monday, March 17th. Finally, HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of Emeren Group in a report on Friday, March 14th.

Emeren Group Trading Down 1.5 %

NYSE SOL opened at $1.60 on Wednesday. Emeren Group has a 12 month low of $1.04 and a 12 month 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’s fifty day moving average price is $1.69 and its 200-day moving average price is $2.02. The stock has a market cap of $81.75 million, a P/E ratio of -12.27 and a beta of 1.70.

Emeren Group (NYSE:SOL) last announced its quarterly earnings results on Thursday, March 13th. The semiconductor company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.31). The firm had revenue of $34.60 million for the quarter, compared to the consensus estimate of $40.13 million. Emeren Group had a negative net margin of 7.14% and a negative return on equity of 2.05%. During the same period last year, the business earned ($0.15) EPS. As a group, equities analysts forecast that Emeren Group will post 0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SOL. Raymond James Financial Inc. purchased a new stake in shares of Emeren Group in the fourth quarter worth $80,000. Invesco Ltd. boosted its holdings in Emeren Group by 26.5% in the 4th quarter. Invesco Ltd. now owns 792,148 shares of the semiconductor company’s stock worth $1,608,000 after buying an additional 165,902 shares during the period. Monaco Asset Management SAM increased its stake in Emeren Group by 35.7% in the 4th quarter. Monaco Asset Management SAM now owns 1,847,764 shares of the semiconductor company’s stock worth $3,751,000 after buying an additional 486,063 shares in the last quarter. Apollon Wealth Management LLC raised its holdings in Emeren Group by 45.5% during the fourth quarter. Apollon Wealth Management LLC now owns 29,100 shares of the semiconductor company’s stock valued at $59,000 after acquiring an additional 9,100 shares during the period. Finally, Shah Capital Management lifted its position in shares of Emeren Group by 0.4% in the fourth quarter. Shah Capital Management now owns 18,818,236 shares of the semiconductor company’s stock valued at $38,201,000 after acquiring an additional 69,374 shares in the last quarter. 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.