Emeren Group (NYSE:SOL) Releases FY 2024 Earnings Guidance

Emeren Group (NYSE:SOLGet Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.500- for the period, compared to the consensus estimate of 0.350. The company issued revenue guidance of $150.0 million-$160.0 million, compared to the consensus revenue estimate of $148.7 million.

Emeren Group Stock Down 4.9 %

Shares of NYSE:SOL opened at $1.93 on Friday. The firm’s 50 day simple moving average is $1.97 and its 200 day simple moving average is $2.41. The company has a current ratio of 5.40, a quick ratio of 5.40 and a debt-to-equity ratio of 0.06. Emeren Group has a fifty-two week low of $1.54 and a fifty-two week high of $4.54.

Institutional Trading of Emeren Group

A number of hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP raised its position in shares of Emeren Group by 26.8% in the 4th quarter. GSA Capital Partners LLP now owns 681,164 shares of the semiconductor company’s stock valued at $1,860,000 after acquiring an additional 143,948 shares during the period. GTS Securities LLC raised its position in shares of Emeren Group by 100.9% in the 4th quarter. GTS Securities LLC now owns 29,874 shares of the semiconductor company’s stock valued at $82,000 after acquiring an additional 15,004 shares during the period. Legal & General Group Plc raised its position in shares of Emeren Group by 20.9% in the 4th quarter. Legal & General Group Plc now owns 1,561,346 shares of the semiconductor company’s stock valued at $4,262,000 after acquiring an additional 269,572 shares during the period. Janney Montgomery Scott LLC increased its stake in Emeren Group by 619.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 103,503 shares of the semiconductor company’s stock worth $283,000 after purchasing an additional 89,116 shares in the last quarter. Finally, Walleye Capital LLC bought a new stake in Emeren Group during the 3rd quarter worth approximately $77,000. 44.08% of the stock is currently owned by institutional investors and hedge funds.

About Emeren Group

(Get Free Report)

Emeren Group Ltd, through its subsidiaries, develops, builds, operates, and sells solar power projects. It owns and operates 3 gigawatt pipeline of projects and independent power producer assets. The company also develops community solar gardens; and sells project rights. In addition, it engages in engineering design; procurement of solar modules; balance-of-system components and other components; and construction contracting and management services.

Further Reading

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