Emeren Group (NYSE:SOL) Earns “Buy” Rating from HC Wainwright

Emeren Group (NYSE:SOL)‘s stock had its “buy” rating reiterated by HC Wainwright in a report released on Friday,Benzinga reports. They currently have a $7.00 price target on the semiconductor company’s stock. HC Wainwright’s price target indicates a potential upside of 266.49% from the company’s current price. HC Wainwright also issued estimates for Emeren Group’s FY2025 earnings at $0.56 EPS.

Several other research analysts have also recently issued reports on the stock. StockNews.com cut shares of Emeren Group from a “hold” rating to a “sell” rating in a report on Wednesday. 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. Three research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $3.83.

Emeren Group Stock Performance

Shares of NYSE:SOL opened at $1.91 on Friday. The business’s 50-day simple moving average is $2.42 and its 200 day simple moving average is $1.98. The company has a market cap of $97.90 million, a P/E ratio of -14.69 and a beta of 1.73. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.27 and a current ratio of 4.27. Emeren Group has a one year low of $1.41 and a one year high of $3.00.

Emeren Group (NYSE:SOL) last posted its earnings results on Tuesday, August 20th. The semiconductor company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Emeren Group had a negative return on equity of 3.15% and a negative net margin of 20.91%. The firm had revenue of $30.06 million for the quarter, compared to analyst estimates of $21.10 million. During the same period in the previous year, the firm posted $0.14 earnings per share. On average, sell-side analysts forecast that Emeren Group will post 0.33 earnings per share for the current fiscal year.

Insider Activity

In other news, Chairman Shah Capital Management acquired 26,843 shares of Emeren Group stock in a transaction dated Tuesday, September 3rd. The stock was 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 37.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Emeren Group

Large investors have recently modified their holdings of the stock. Long Run Wealth Advisors LLC bought a new stake in shares of Emeren Group in the third quarter valued at approximately $28,000. Mercer Global Advisors Inc. ADV boosted its position in Emeren Group by 160.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 47,809 shares of the semiconductor company’s stock valued at $72,000 after buying an additional 29,484 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Emeren Group during the 3rd quarter worth $88,000. 44.08% of the stock is owned by institutional investors.

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.