Emeren Group Ltd (NYSE:SOL) Receives Average Recommendation of “Reduce” from Analysts

Emeren Group Ltd (NYSE:SOL) has been given a consensus recommendation of “Reduce” by the five research firms that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $4.38.

SOL has been the topic of a number of research analyst reports. StockNews.com upgraded Emeren Group from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. BWS Financial restated a “sell” rating and set a $6.00 price target on shares of Emeren Group in a research report on Monday, December 16th. Finally, HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of Emeren Group in a research report on Friday, November 15th.

Emeren Group Stock Down 3.7 %

NYSE SOL opened at $1.58 on Friday. The firm has a market cap of $80.98 million, a PE ratio of -12.15 and a beta of 1.61. Emeren Group has a one year low of $1.41 and a one year high of $3.00. The stock’s 50 day simple moving average is $1.89 and its 200 day simple moving average is $2.06. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.34 and a quick ratio of 4.34.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SOL. Long Run Wealth Advisors LLC acquired a new position in Emeren Group during the 3rd quarter worth $28,000. Apollon Wealth Management LLC lifted its holdings in Emeren Group by 45.5% during the 4th quarter. Apollon Wealth Management LLC now owns 29,100 shares of the semiconductor company’s stock worth $59,000 after buying an additional 9,100 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Emeren Group during the 4th quarter worth $80,000. XTX Topco Ltd acquired a new position in shares of Emeren Group in the 3rd quarter valued at $88,000. Finally, Invesco Ltd. lifted its stake in shares of Emeren Group by 26.5% in the 4th quarter. Invesco Ltd. now owns 792,148 shares of the semiconductor company’s stock valued at $1,608,000 after purchasing an additional 165,902 shares during the period. 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.