Emeren Group Ltd (NYSE:SOL) Receives Consensus Rating of “Hold” from Analysts

Shares of Emeren Group Ltd (NYSE:SOL) have earned a consensus recommendation of “Hold” from the five brokerages that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $4.88.

SOL has been the subject of several analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Emeren Group in a research report on Wednesday, August 21st. Roth Mkm reissued a “buy” rating and set a $3.00 price objective on shares of Emeren Group in a report on Wednesday, August 21st.

Emeren Group Stock Performance

Shares of Emeren Group stock opened at $2.57 on Friday. The business has a 50-day simple moving average of $1.92 and a 200-day simple moving average of $1.85. The company has a market cap of $131.74 million, a PE ratio of -9.88 and a beta of 1.71. Emeren Group has a one year low of $1.41 and a one year high of $3.27. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.27 and a current ratio of 4.27.

Emeren Group (NYSE:SOL) last announced its quarterly earnings data on Tuesday, August 20th. The semiconductor company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The firm had revenue of $30.06 million during the quarter, compared to analysts’ expectations of $21.10 million. Emeren Group had a negative net margin of 20.91% and a negative return on equity of 3.15%. During the same period in the prior year, the company posted $0.14 earnings per share. On average, equities research analysts forecast that Emeren Group will post 0.27 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Shah Capital Management acquired 26,843 shares of Emeren Group stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average cost of $1.83 per share, with a total value of $49,122.69. Following the purchase, the chairman now directly owns 18,655,151 shares in the company, valued at $34,138,926.33. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 18.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On Emeren Group

A number of hedge funds have recently added to or reduced their stakes in SOL. Monaco Asset Management SAM grew its stake in shares of Emeren Group by 40.6% during the 1st quarter. Monaco Asset Management SAM now owns 1,170,000 shares of the semiconductor company’s stock worth $2,258,000 after purchasing an additional 337,650 shares during the period. GSA Capital Partners LLP boosted its stake in shares of Emeren Group by 9.7% during the 1st quarter. GSA Capital Partners LLP now owns 747,448 shares of the semiconductor company’s stock worth $1,443,000 after acquiring an additional 66,284 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in Emeren Group by 160.9% in 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 in the last quarter. Institutional investors and hedge funds own 44.08% of the company’s stock.

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.