Brokerages Set Emeren Group Ltd (NYSE:SOL) PT at $4.88

Emeren Group Ltd (NYSE:SOL) has received an average rating of “Hold” from the four brokerages that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation and two have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $3.83.

SOL has been the topic of a number of research analyst reports. Roth Mkm reiterated a “buy” rating and set a $3.00 price target on shares of Emeren Group in a report on Wednesday, August 21st. StockNews.com upgraded Emeren Group from a “sell” rating to a “hold” rating in a report on Thursday. Finally, HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Emeren Group in a report on Wednesday, August 21st.

Emeren Group Stock Down 1.4 %

Shares of Emeren Group stock opened at $2.79 on Friday. The stock’s fifty day moving average is $1.95 and its 200-day moving average is $1.86. The firm has a market capitalization of $168.03 million, a PE ratio of -10.73 and a beta of 1.71. The company has a quick ratio of 4.27, a current ratio of 4.27 and a debt-to-equity ratio of 0.07. Emeren Group has a 12-month low of $1.41 and a 12-month high of $3.21.

Emeren Group (NYSE:SOL) last announced its earnings results on Tuesday, August 20th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The company had revenue of $30.06 million for the quarter, compared to analyst estimates of $21.10 million. Emeren Group had a negative return on equity of 3.15% and a negative net margin of 20.91%. During the same period last year, the firm earned $0.14 earnings per share. Equities analysts anticipate that Emeren Group will post 0.27 earnings per share for the current year.

Insider Buying and Selling at Emeren Group

In other news, Chairman Shah Capital Management bought 26,843 shares of the stock in a transaction on 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 purchase, the chairman now directly owns 18,655,151 shares of the company’s stock, valued at approximately $34,138,926.33. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 18.02% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SOL. Monaco Asset Management SAM boosted its stake in shares of Emeren Group by 40.6% during the 1st quarter. Monaco Asset Management SAM now owns 1,170,000 shares of the semiconductor company’s stock worth $2,258,000 after acquiring an additional 337,650 shares in the last quarter. GSA Capital Partners LLP increased its holdings in shares of Emeren Group by 9.7% during the 1st quarter. GSA Capital Partners LLP now owns 747,448 shares of the semiconductor company’s stock valued at $1,443,000 after acquiring an additional 66,284 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its holdings in shares of Emeren Group by 160.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 47,809 shares of the semiconductor company’s stock valued at $72,000 after acquiring an additional 29,484 shares during the last quarter. Hedge funds and other institutional investors own 44.08% of the company’s stock.

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.