Emeren Group Ltd (NYSE:SOL) Receives Average Recommendation of “Reduce” from Brokerages

Emeren Group Ltd (NYSE:SOL) has been given a consensus recommendation of “Reduce” by the five ratings firms that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $4.38.

SOL has been the topic of a number of recent analyst reports. StockNews.com raised Emeren Group from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. BWS Financial reissued a “sell” rating and set a $6.00 price target on shares of Emeren Group in a research report on Monday, December 16th. Finally, 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.

Institutional Investors Weigh In On Emeren Group

Several large investors have recently added to or reduced their stakes in the stock. Apollon Wealth Management LLC increased its position in Emeren Group by 45.5% in the fourth quarter. Apollon Wealth Management LLC now owns 29,100 shares of the semiconductor company’s stock worth $59,000 after buying an additional 9,100 shares during the period. Long Run Wealth Advisors LLC acquired a new stake in Emeren Group in the third quarter worth $28,000. XTX Topco Ltd acquired a new stake in Emeren Group in the third quarter worth $88,000. Raymond James Financial Inc. acquired a new stake in Emeren Group in the fourth quarter worth $80,000. Finally, Shah Capital Management increased its position in Emeren Group by 0.4% in the fourth quarter. Shah Capital Management now owns 18,818,236 shares of the semiconductor company’s stock worth $38,201,000 after buying an additional 69,374 shares during the period. 44.08% of the stock is owned by institutional investors and hedge funds.

Emeren Group Stock Performance

Shares of SOL opened at $1.53 on Friday. The business’s 50 day moving average is $1.87 and its two-hundred day moving average is $2.07. Emeren Group has a 52-week low of $1.41 and a 52-week high of $3.00. The firm has a market cap of $78.16 million, a price-to-earnings ratio of -11.73 and a beta of 1.61. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.10.

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.