Emeren Group Ltd (NYSE:SOL) Receives Average Rating of “Reduce” from Analysts

Emeren Group Ltd (NYSE:SOL) has received a consensus recommendation of “Reduce” from the five analysts that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell rating and two have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $4.38.

A number of analysts recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Emeren Group in a research report on Friday, November 15th. StockNews.com raised Emeren Group from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. Finally, BWS Financial reiterated a “sell” rating and set a $6.00 target price on shares of Emeren Group in a report on Monday, December 16th.

Emeren Group Price Performance

Emeren Group stock opened at $2.11 on Friday. The firm’s 50-day moving average is $2.01 and its two-hundred day moving average is $2.01. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.34 and a quick ratio of 4.34. The stock has a market capitalization of $108.15 million, a P/E ratio of -16.23 and a beta of 1.63. Emeren Group has a 12-month low of $1.41 and a 12-month high of $3.00.

Hedge Funds Weigh In On Emeren Group

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

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.