Analysts Set Emeren Group Ltd (NYSE:SOL) Price Target at $4.13

Shares of Emeren Group Ltd (NYSE:SOL) have received an average recommendation of “Reduce” from the five analysts that are covering the stock, MarketBeat.com reports. Three 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 brokers that have updated their coverage on the stock in the last year is $4.13.

SOL has been the subject of a number of research analyst reports. BWS Financial reaffirmed 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 dropped their target price on shares of Emeren Group from $3.00 to $2.00 and set a “buy” rating for the company in a research report on Monday, March 17th. StockNews.com cut shares of Emeren Group from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. Finally, HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Emeren Group in a report on Friday, March 14th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Monaco Asset Management SAM grew its stake in shares of 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 during the last quarter. XTX Topco Ltd purchased a new stake in shares of Emeren Group in the third quarter worth $88,000. Apollon Wealth Management LLC increased its holdings in shares of 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 in the last quarter. Shah Capital Management boosted its stake in Emeren Group by 0.4% in the 4th quarter. Shah Capital Management now owns 18,818,236 shares of the semiconductor company’s stock worth $38,201,000 after purchasing an additional 69,374 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Emeren Group in the fourth quarter worth approximately $80,000. 44.08% of the stock is owned by hedge funds and other institutional investors.

Emeren Group Price Performance

SOL opened at $1.60 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.34 and a quick ratio of 4.34. The stock’s 50 day simple moving average is $1.69 and its 200 day simple moving average is $2.02. The firm has a market cap of $81.75 million, a price-to-earnings ratio of -12.27 and a beta of 1.70. Emeren Group has a 1 year low of $1.04 and a 1 year high of $3.00.

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

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.