Emeren Group Ltd (NYSE:SOL) Receives $4.13 Consensus Target Price from Brokerages

Emeren Group Ltd (NYSE:SOL) has been given a consensus recommendation of “Reduce” by the five ratings firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $4.13.

Several analysts recently weighed in on the company. Roth Mkm decreased their price target on Emeren Group from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Monday, March 17th. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Emeren Group in a research note on Friday, March 14th. BWS Financial reaffirmed a “sell” rating and set a $6.00 price target on shares of Emeren Group in a research note on Monday, December 16th. Finally, StockNews.com lowered shares of Emeren Group from a “hold” rating to a “sell” rating in a research report on Friday, March 14th.

Institutional Trading of Emeren Group

A number of hedge funds have recently added to or reduced their stakes in SOL. Monaco Asset Management SAM boosted 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 valued at $3,751,000 after purchasing an additional 486,063 shares in the last quarter. XTX Topco Ltd purchased a new stake in Emeren Group during the third quarter valued at approximately $88,000. Apollon Wealth Management LLC boosted its stake in Emeren Group by 45.5% in the fourth quarter. Apollon Wealth Management LLC now owns 29,100 shares of the semiconductor company’s stock valued at $59,000 after acquiring an additional 9,100 shares in the last quarter. Shah Capital Management grew its holdings 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 worth $38,201,000 after purchasing an additional 69,374 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Emeren Group during the 4th quarter valued at about $80,000. 44.08% of the stock is owned by hedge funds and other institutional investors.

Emeren Group Stock Performance

NYSE SOL opened at $1.60 on Wednesday. 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. The business has a 50 day simple moving average of $1.69 and a two-hundred day simple moving average of $2.02. The stock has a market capitalization of $81.75 million, a PE ratio of -12.27 and a beta of 1.70.

Emeren Group (NYSE:SOL) last released its quarterly earnings data on Thursday, March 13th. The semiconductor company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.31). The business had revenue of $34.60 million for the quarter, compared to the consensus estimate of $40.13 million. Emeren Group had a negative net margin of 7.14% and a negative return on equity of 2.05%. During the same quarter last year, the business earned ($0.15) EPS. On average, research analysts predict that Emeren Group will post 0.1 EPS for the current fiscal year.

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.