Emeren Group (SOL) Set to Announce Earnings on Thursday

Emeren Group (NYSE:SOL) is scheduled to announce its earnings results after the market closes on Thursday, November 14th. Analysts expect the company to announce earnings of $0.09 per share for the quarter. Emeren Group has set its FY 2024 guidance at EPS and its Q3 2024 guidance at EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

Emeren Group (NYSE:SOL) last issued 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 analysts’ expectations of $21.10 million. Emeren Group had a negative net margin of 20.91% and a negative return on equity of 3.15%. During the same period in the prior year, the firm posted $0.14 earnings per share. On average, analysts expect Emeren Group to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Emeren Group Trading Down 16.3 %

NYSE SOL opened at $2.20 on Thursday. Emeren Group has a 12 month low of $1.41 and a 12 month high of $3.00. The company’s 50-day moving average price is $2.39 and its 200-day moving average price is $1.96. The stock has a market cap of $112.77 million, a PE ratio of -5.64 and a beta of 1.73. The company has a current ratio of 4.27, a quick ratio of 4.27 and a debt-to-equity ratio of 0.07.

Analysts Set New Price Targets

A number of brokerages have recently commented on SOL. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Emeren Group in a research report on Wednesday, August 21st. StockNews.com upgraded Emeren Group from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Roth Mkm reaffirmed a “buy” rating and set a $3.00 target price on shares of Emeren Group in a research report on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $3.83.

Insider Transactions at Emeren Group

In other Emeren Group news, Chairman Shah Capital Management acquired 26,843 shares of the business’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 acquisition, the chairman now directly owns 18,655,151 shares in the company, valued at $34,138,926.33. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 37.31% 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.