Roth Mkm Cuts Emeren Group (NYSE:SOL) Price Target to $2.00

Emeren Group (NYSE:SOL) had its price target reduced by Roth Mkm from $3.00 to $2.00 in a report issued on Monday,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other research analysts have also weighed in on SOL. StockNews.com lowered shares of Emeren Group from a “hold” rating to a “sell” rating in a research note on Friday, March 14th. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of Emeren Group in a research report on Friday, March 14th. Finally, BWS Financial reissued a “sell” rating and set a $6.00 price objective on shares of Emeren Group in a report on Monday, December 16th. Four equities research analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $4.13.

Emeren Group Stock Performance

NYSE:SOL opened at $1.67 on Monday. The company has a market capitalization of $85.34 million, a P/E ratio of -12.81 and a beta of 1.70. The business has a fifty day simple moving average of $1.74 and a two-hundred day simple moving average of $2.04. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.34 and a quick ratio of 4.34. Emeren Group has a 1 year low of $1.04 and a 1 year high of $3.00.

Emeren Group (NYSE:SOL) last announced its quarterly earnings data on Thursday, March 13th. The semiconductor company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.31). The firm had revenue of $34.60 million during 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 period last year, the business posted ($0.15) EPS. On average, analysts expect that Emeren Group will post 0.1 earnings per share for the current year.

Institutional Investors Weigh In On Emeren Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Monaco Asset Management SAM increased its stake in 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 acquiring an additional 486,063 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Emeren Group during the third quarter worth about $88,000. Apollon Wealth Management LLC increased its position in shares of 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 purchasing an additional 9,100 shares during the last quarter. Shah Capital Management raised its stake 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 valued at $38,201,000 after purchasing an additional 69,374 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Emeren Group during the fourth quarter valued at approximately $80,000. Hedge funds and other institutional investors own 44.08% of the company’s stock.

Emeren Group Company Profile

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.