Raymond James Financial Services Advisors Inc. Has $77,000 Position in Emeren Group Ltd (NYSE:SOL)

Raymond James Financial Services Advisors Inc. cut its position in Emeren Group Ltd (NYSE:SOL) by 74.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,218 shares of the semiconductor company’s stock after selling 83,207 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Emeren Group were worth $77,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Aigen Investment Management LP raised its position in shares of Emeren Group by 74.1% in the 3rd quarter. Aigen Investment Management LP now owns 19,737 shares of the semiconductor company’s stock valued at $61,000 after buying an additional 8,401 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Emeren Group in the 3rd quarter valued at approximately $36,000. Janney Montgomery Scott LLC acquired a new position in shares of Emeren Group in the 3rd quarter valued at approximately $44,000. Quadrature Capital Ltd increased its position in Emeren Group by 42.0% during the 3rd quarter. Quadrature Capital Ltd now owns 59,685 shares of the semiconductor company’s stock worth $184,000 after purchasing an additional 17,659 shares in the last quarter. Finally, Alpine Global Management LLC acquired a new position in Emeren Group during the 3rd quarter worth approximately $62,000. 44.08% of the stock is currently owned by institutional investors and hedge funds.

Emeren Group Price Performance

SOL stock opened at $1.81 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.40 and a quick ratio of 5.40. Emeren Group Ltd has a 1 year low of $1.54 and a 1 year high of $4.28. The company has a 50 day simple moving average of $2.01 and a 200 day simple moving average of $2.28. The stock has a market cap of $109.00 million, a price-to-earnings ratio of -10.06 and a beta of 1.78.

Emeren Group (NYSE:SOL) last announced its quarterly earnings results on Thursday, March 28th. The semiconductor company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.06). Emeren Group had a negative net margin of 8.91% and a positive return on equity of 0.26%. The business had revenue of $44.00 million during the quarter, compared to analyst estimates of $39.22 million. Research analysts anticipate that Emeren Group Ltd will post 0.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SOL. HC Wainwright reiterated a “buy” rating and set a $7.00 price objective on shares of Emeren Group in a research report on Monday, April 1st. StockNews.com upgraded shares of Emeren Group to a “sell” rating in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $5.80.

Emeren Group Company Profile

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.