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

Emeren Group Ltd (NYSE:SOL) has been assigned an average rating of “Reduce” from the five analysts that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $4.13.

Several research firms have weighed in on SOL. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Emeren Group in a report on Friday, March 14th. Roth Mkm decreased their price target on Emeren Group from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. Finally, StockNews.com downgraded Emeren Group from a “hold” rating to a “sell” rating in a report on Friday, March 14th.

Emeren Group Price Performance

Emeren Group stock opened at $1.58 on Thursday. Emeren Group has a 12 month low of $1.04 and a 12 month high of $3.00. 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 business has a 50 day simple moving average of $1.44 and a 200-day simple moving average of $1.76. The stock has a market capitalization of $80.85 million, a PE ratio of -12.13 and a beta of 2.10.

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

Hedge Funds Weigh In On Emeren Group

A number of large investors have recently modified their holdings of the company. Virtu Financial LLC purchased a new stake in shares of Emeren Group during the 1st quarter valued at about $47,000. Monaco Asset Management SAM raised its stake in shares of Emeren Group by 8.5% in the 1st quarter. Monaco Asset Management SAM now owns 2,005,152 shares of the semiconductor company’s stock worth $3,148,000 after buying an additional 157,388 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Emeren Group during the fourth quarter worth $80,000. Invesco Ltd. boosted its position in shares of Emeren Group by 26.5% in the fourth quarter. Invesco Ltd. now owns 792,148 shares of the semiconductor company’s stock worth $1,608,000 after buying an additional 165,902 shares during the period. Finally, Apollon Wealth Management LLC grew its stake in Emeren Group by 45.5% during the 4th 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. 44.08% of the stock is currently owned by hedge funds and other institutional investors.

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.