Analysts Set Emeren Group Ltd (NYSE:SOL) Price Target at $4.38

Shares of Emeren Group Ltd (NYSE:SOL) have received an average recommendation of “Reduce” from the five analysts that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $4.38.

Several research analysts have commented on the stock. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Emeren Group in a report on Friday, November 15th. StockNews.com upgraded shares of Emeren Group from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. Roth Mkm reaffirmed a “buy” rating and issued a $3.00 price target on shares of Emeren Group in a report on Wednesday, August 21st. Finally, BWS Financial reissued a “sell” rating and set a $6.00 price objective on shares of Emeren Group in a research note on Monday.

Hedge Funds Weigh In On Emeren Group

A number of hedge funds have recently added to or reduced their stakes in SOL. XTX Topco Ltd bought a new stake in shares of Emeren Group in the third quarter valued at about $88,000. Long Run Wealth Advisors LLC purchased a new position in Emeren Group during the 3rd quarter valued at about $28,000. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of 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 valued at $72,000 after purchasing an additional 29,484 shares in the last quarter. 44.08% of the stock is currently owned by institutional investors.

Emeren Group Price Performance

NYSE SOL opened at $1.78 on Monday. The stock has a market cap of $91.23 million, a price-to-earnings ratio of -13.69 and a beta of 1.64. 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 is $2.17 and its two-hundred day moving average is $1.97. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.10.

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.