Emeren Group Ltd (NYSE:SOL) Receives $5.38 Consensus PT from Analysts

Shares of Emeren Group Ltd (NYSE:SOL) have been given an average recommendation of “Hold” by the five ratings firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $5.38.

A number of analysts have commented on SOL shares. StockNews.com upgraded Emeren Group to a “sell” rating in a research report on Friday, May 24th. Northland Capmk lowered shares of Emeren Group from a “hold” rating to a “strong sell” rating in a report on Friday, May 24th. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of Emeren Group in a research note on Friday, May 24th. Finally, Northland Securities lowered shares of Emeren Group from a “market perform” rating to an “under perform” rating and set a $1.50 price target for the company. in a research report on Friday, May 24th.

Hedge Funds Weigh In On Emeren Group

Large investors have recently bought and sold shares of the business. GSA Capital Partners LLP boosted its holdings in Emeren Group by 9.7% in the first quarter. GSA Capital Partners LLP now owns 747,448 shares of the semiconductor company’s stock worth $1,443,000 after acquiring an additional 66,284 shares in the last quarter. Monaco Asset Management SAM boosted its stake in Emeren Group by 40.6% in the 1st quarter. Monaco Asset Management SAM now owns 1,170,000 shares of the semiconductor company’s stock worth $2,258,000 after purchasing an additional 337,650 shares in the last quarter. Finally, Shah Capital Management purchased a new stake in Emeren Group during the 4th quarter worth approximately $50,885,000. Institutional investors own 44.08% of the company’s stock.

Emeren Group Stock Down 0.5 %

Shares of Emeren Group stock opened at $1.83 on Friday. Emeren Group has a twelve month low of $1.46 and a twelve month high of $4.21. The company has a market cap of $110.20 million, a price-to-earnings ratio of -7.04 and a beta of 1.72. The company’s 50 day moving average is $1.73 and its 200 day moving average is $1.92.

Emeren Group (NYSE:SOL) last released its quarterly earnings results on Thursday, May 23rd. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter. Emeren Group had a negative net margin of 12.70% and a negative return on equity of 0.89%. The firm had revenue of $14.79 million for the quarter, compared to the consensus estimate of $18.24 million. Sell-side analysts expect that Emeren Group will post 0.29 EPS for the current fiscal year.

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.