Emeren Group Ltd (NYSE:SOL) Receives $4.13 Consensus PT from Analysts

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

Several equities research analysts have issued reports on SOL shares. BWS Financial reaffirmed a “sell” rating and set a $6.00 price objective on shares of Emeren Group in a research report on Monday, December 16th. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of Emeren Group in a research note on Friday, March 14th. StockNews.com lowered shares of Emeren Group from a “hold” rating to a “sell” rating in a research note on Friday, March 14th. Finally, Roth Mkm cut their price objective 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.

Emeren Group Stock Up 4.1 %

Emeren Group stock opened at $1.64 on Wednesday. Emeren Group has a fifty-two week low of $1.04 and a fifty-two week high of $3.00. The firm has a market capitalization of $83.80 million, a PE ratio of -12.58 and a beta of 1.70. The company’s 50-day moving average is $1.67 and its 200-day moving average is $2.01. 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 (NYSE:SOL) last released its quarterly earnings data 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 net margin of 7.14% and a negative return on equity of 2.05%. The business 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 company earned ($0.15) EPS. Sell-side analysts anticipate that Emeren Group will post 0.1 earnings per share for the current year.

Institutional Investors Weigh In On Emeren Group

Large investors have recently added to or reduced their stakes in the stock. Monaco Asset Management SAM lifted its position in Emeren Group by 35.7% during the fourth quarter. Monaco Asset Management SAM now owns 1,847,764 shares of the semiconductor company’s stock worth $3,751,000 after purchasing an additional 486,063 shares during the period. Invesco Ltd. increased its stake in Emeren Group by 26.5% in the fourth quarter. Invesco Ltd. now owns 792,148 shares of the semiconductor company’s stock valued at $1,608,000 after acquiring an additional 165,902 shares during the last quarter. Shah Capital Management increased 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 acquiring an additional 69,374 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Emeren Group during the fourth quarter valued at approximately $80,000. Finally, XTX Topco Ltd bought a new stake in Emeren Group during the third quarter worth $88,000. Institutional investors and hedge funds 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.