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

Shares of Emeren Group Ltd (NYSE:SOL) have received a consensus rating of “Reduce” from the five research firms that are presently covering the company, MarketBeat Ratings 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 brokers that have issued a report on the stock in the last year is $4.38.

Several research firms recently weighed in on SOL. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Emeren Group in a research 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. Finally, BWS Financial restated a “sell” rating and set a $6.00 price objective on shares of Emeren Group in a research report on Monday, December 16th.

Hedge Funds Weigh In On Emeren Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Shah Capital Management increased its holdings in shares of Emeren Group by 0.4% during the fourth quarter. Shah Capital Management now owns 18,818,236 shares of the semiconductor company’s stock worth $38,201,000 after buying an additional 69,374 shares in the last quarter. Monaco Asset Management SAM grew its holdings in shares of Emeren Group by 35.7% during the fourth quarter. Monaco Asset Management SAM now owns 1,847,764 shares of the semiconductor company’s stock worth $3,751,000 after purchasing an additional 486,063 shares during the last quarter. Invesco Ltd. increased its stake in shares of Emeren Group by 26.5% in the fourth quarter. Invesco Ltd. now owns 792,148 shares of the semiconductor company’s stock valued at $1,608,000 after buying an additional 165,902 shares during the period. Raymond James Financial Inc. bought a new position in Emeren Group in the 4th quarter valued at approximately $80,000. Finally, XTX Topco Ltd acquired a new stake in Emeren Group during the 3rd quarter worth approximately $88,000. Institutional investors own 44.08% of the company’s stock.

Emeren Group Price Performance

Shares of NYSE SOL opened at $1.52 on Friday. The business has a fifty day moving average price of $1.88 and a two-hundred day moving average price of $2.07. The stock has a market capitalization of $77.65 million, a PE ratio of -11.65 and a beta of 1.61. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.34 and a quick ratio of 4.34. Emeren Group has a fifty-two week low of $1.41 and a fifty-two 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.