Emeren Group Ltd (NYSE:SOL) Receives $4.88 Average Price Target from Brokerages

Emeren Group Ltd (NYSE:SOL) has been assigned an average rating of “Hold” from the five research firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $4.88.

SOL has been the subject of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Emeren Group in a research note on Wednesday, August 21st. StockNews.com upgraded shares of Emeren Group to a “sell” rating in a research report on Friday, May 24th. Northland Securities lowered shares of Emeren Group from a “market perform” rating to an “under perform” rating and set a $1.50 price objective for the company. in a report on Friday, May 24th. Roth Mkm reaffirmed a “buy” rating and set a $3.00 target price on shares of Emeren Group in a report on Wednesday, August 21st. Finally, Northland Capmk cut shares of Emeren Group from a “hold” rating to a “strong sell” rating in a research report on Friday, May 24th.

Emeren Group Stock Up 3.3 %

SOL stock opened at $1.90 on Monday. The company’s 50 day moving average is $1.71 and its 200 day moving average is $1.82. The stock has a market cap of $97.39 million, a price-to-earnings ratio of -7.31 and a beta of 1.71. The company has a current ratio of 4.27, a quick ratio of 4.27 and a debt-to-equity ratio of 0.07. Emeren Group has a 1-year low of $1.41 and a 1-year high of $3.34.

Emeren Group (NYSE:SOL) last posted its quarterly earnings data on Tuesday, August 20th. The semiconductor company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). Emeren Group had a negative net margin of 20.91% and a negative return on equity of 3.15%. The company had revenue of $30.06 million for the quarter, compared to analysts’ expectations of $21.10 million. During the same quarter last year, the business posted $0.14 EPS. Sell-side analysts predict that Emeren Group will post 0.27 EPS for the current fiscal year.

Insider Buying and Selling at Emeren Group

In other news, Chairman Shah Capital Management bought 26,843 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average price of $1.83 per share, for a total transaction of $49,122.69. Following the completion of the acquisition, the chairman now owns 18,655,151 shares of the company’s stock, valued at $34,138,926.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 18.02% of the company’s stock.

Institutional Trading of Emeren Group

Several large investors have recently modified their holdings of the business. Monaco Asset Management SAM raised its position in Emeren Group by 49.6% during the 4th quarter. Monaco Asset Management SAM now owns 832,350 shares of the semiconductor company’s stock valued at $2,272,000 after purchasing an additional 276,023 shares during the last quarter. GSA Capital Partners LLP increased its stake in shares of Emeren Group by 9.7% during the first quarter. GSA Capital Partners LLP now owns 747,448 shares of the semiconductor company’s stock valued at $1,443,000 after buying an additional 66,284 shares during the period. Finally, Mercer Global Advisors Inc. ADV increased its stake in shares of Emeren Group by 160.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 47,809 shares of the semiconductor company’s stock valued at $72,000 after buying an additional 29,484 shares during the period. 44.08% of the stock is owned by institutional investors.

About Emeren Group

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.