Emeren Group Ltd (NYSE:SOL) Receives $4.38 Average PT from Brokerages

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

A number of equities analysts have recently weighed in on SOL shares. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of Emeren Group in a research note 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 price target on shares of Emeren Group in a report on Monday, December 16th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SOL. Apollon Wealth Management LLC boosted its position in Emeren Group by 45.5% during the fourth quarter. Apollon Wealth Management LLC now owns 29,100 shares of the semiconductor company’s stock worth $59,000 after purchasing an additional 9,100 shares during the period. Long Run Wealth Advisors LLC bought a new stake in shares of Emeren Group during the 3rd quarter worth $28,000. XTX Topco Ltd acquired a new position in Emeren Group in the 3rd quarter valued at $88,000. Raymond James Financial Inc. bought a new position in Emeren Group in the 4th quarter worth $80,000. Finally, Shah Capital Management lifted its position in Emeren Group by 0.4% during the 4th quarter. Shah Capital Management now owns 18,818,236 shares of the semiconductor company’s stock worth $38,201,000 after acquiring an additional 69,374 shares during the last quarter. Institutional investors and hedge funds own 44.08% of the company’s stock.

Emeren Group Stock Performance

Shares of SOL opened at $1.77 on Tuesday. The company has a market capitalization of $90.47 million, a PE ratio of -13.58 and a beta of 1.61. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.34 and a current ratio of 4.34. The company’s 50 day moving average price is $1.95 and its 200 day moving average price is $2.05. Emeren Group has a 52 week low of $1.41 and a 52 week high of $3.00.

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.