Emeren Group Ltd (NYSE:SOL) Receives $5.38 Consensus Target Price from Analysts

Shares of Emeren Group Ltd (NYSE:SOL) have been given an average recommendation of “Hold” by the five brokerages that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $5.38.

A number of analysts recently issued reports on the company. HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of Emeren Group in a research report on Friday, May 24th. StockNews.com upgraded Emeren Group to a “sell” rating in a research note on Friday, May 24th. Northland Securities lowered Emeren Group from a “market perform” rating to an “under perform” rating and set a $1.50 target price on the stock. in a research note on Friday, May 24th. Finally, Northland Capmk lowered Emeren Group from a “hold” rating to a “strong sell” rating in a research note on Friday, May 24th.

Hedge Funds Weigh In On Emeren Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC purchased a new position in Emeren Group in the third quarter valued at about $44,000. Aigen Investment Management LP grew its stake in Emeren Group by 74.1% in the third quarter. Aigen Investment Management LP now owns 19,737 shares of the semiconductor company’s stock valued at $61,000 after purchasing an additional 8,401 shares during the last quarter. Alpine Global Management LLC purchased a new position in Emeren Group in the third quarter valued at about $62,000. Quadrature Capital Ltd grew its stake in Emeren Group by 42.0% in the third quarter. Quadrature Capital Ltd now owns 59,685 shares of the semiconductor company’s stock valued at $184,000 after purchasing an additional 17,659 shares during the last quarter. Finally, GSA Capital Partners LLP grew its stake in Emeren Group by 9.7% in the first quarter. GSA Capital Partners LLP now owns 747,448 shares of the semiconductor company’s stock valued at $1,443,000 after purchasing an additional 66,284 shares during the last quarter. Hedge funds and other institutional investors own 44.08% of the company’s stock.

Emeren Group Stock Up 0.3 %

Shares of SOL opened at $1.49 on Wednesday. The company has a market cap of $89.43 million, a PE ratio of -5.71 and a beta of 1.71. The business has a fifty day moving average of $1.80 and a 200 day moving average of $2.05. Emeren Group has a 52-week low of $1.46 and a 52-week high of $4.28. The company has a quick ratio of 5.40, a current ratio of 3.65 and a debt-to-equity ratio of 0.09.

Emeren Group (NYSE:SOL) last issued its quarterly earnings results on Thursday, May 23rd. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter. The company had revenue of $14.79 million during the quarter, compared to the consensus estimate of $18.24 million. Emeren Group had a negative return on equity of 0.89% and a negative net margin of 12.70%. On average, sell-side analysts expect that Emeren Group will post 0.29 EPS for the current year.

Emeren Group Company Profile

Emeren Group Ltd, through its subsidiaries, develops, builds, operates, and sells solar power projects. It owns and operates 3 gigawatt pipeline of projects and independent power producer assets. The company also develops community solar gardens; and sells project rights. In addition, it engages in engineering design; procurement of solar modules; balance-of-system components and other components; and construction contracting and management services.