Emeren Group (NYSE:SOL) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Emeren Group (NYSE:SOL) from a sell rating to a hold rating in a report issued on Thursday.

Other analysts also recently issued research reports about the company. HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of Emeren Group in a research note on Friday, November 15th. Roth Mkm restated a “buy” rating and set a $3.00 price target on shares of Emeren Group in a report on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $3.83.

Emeren Group Price Performance

Shares of SOL opened at $1.87 on Thursday. Emeren Group has a fifty-two week low of $1.41 and a fifty-two week high of $3.00. The firm’s 50-day simple moving average is $2.39 and its two-hundred day simple moving average is $1.98. The stock has a market cap of $95.85 million, a PE ratio of -14.38 and a beta of 1.73. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.34 and a current ratio of 4.34.

Insider Buying and Selling

In other Emeren Group news, Chairman Shah Capital Management acquired 26,843 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average cost of $1.83 per share, with a total value of $49,122.69. Following the completion of the transaction, the chairman now directly owns 18,655,151 shares of the company’s stock, valued at approximately $34,138,926.33. This represents a 0.14 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 37.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On Emeren Group

Several hedge funds and other institutional investors have recently bought and sold shares of SOL. Long Run Wealth Advisors LLC purchased a new position in shares of Emeren Group during the third quarter valued at approximately $28,000. Mercer Global Advisors Inc. ADV grew its position in Emeren Group by 160.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 47,809 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 29,484 shares during the period. Finally, XTX Topco Ltd purchased a new stake in Emeren Group during the 3rd quarter valued at $88,000. 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.