Emeren Group Ltd (NYSE:SOL) Receives Consensus Rating of “Reduce” from Brokerages

Shares of Emeren Group Ltd (NYSE:SOL) have been assigned a consensus rating of “Reduce” from the five ratings firms that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating and two have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $4.13.

A number of equities research analysts recently weighed in on SOL shares. BWS Financial reaffirmed a “sell” rating and issued a $6.00 target price on shares of Emeren Group in a research note on Monday, December 16th. StockNews.com cut shares of Emeren Group from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of Emeren Group in a research report on Friday, March 14th. Finally, Roth Mkm reduced their target price on Emeren Group from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Monday, March 17th.

Emeren Group Trading Down 1.2 %

Emeren Group stock opened at $1.66 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.34 and a current ratio of 4.34. Emeren Group has a fifty-two week low of $1.04 and a fifty-two week high of $3.00. The stock has a market cap of $85.08 million, a P/E ratio of -12.77 and a beta of 1.70. The firm’s fifty day moving average price is $1.71 and its 200-day moving average price is $2.03.

Emeren Group (NYSE:SOL) last announced its earnings results on Thursday, March 13th. The semiconductor company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.31). The business had revenue of $34.60 million during the quarter, compared to the consensus estimate of $40.13 million. Emeren Group had a negative return on equity of 2.05% and a negative net margin of 7.14%. During the same quarter in the prior year, the company earned ($0.15) earnings per share. Equities research analysts forecast that Emeren Group will post 0.1 earnings per share for the current fiscal year.

Institutional Trading of Emeren Group

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