Emeren Group Ltd (NYSE:SOL) Receives Average Rating of “Hold” from Brokerages

Shares of Emeren Group Ltd (NYSE:SOL) have been assigned an average recommendation of “Hold” from the five analysts that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $4.88.

SOL has been the topic of a number of analyst reports. StockNews.com raised Emeren Group to a “sell” rating in a research report on Friday, May 24th. Roth Mkm reissued a “buy” rating and issued a $3.00 price target on shares of Emeren Group in a research report on Wednesday, August 21st. Northland Capmk cut Emeren Group from a “hold” rating to a “strong sell” rating in a research report on Friday, May 24th. Northland Securities cut Emeren Group from a “market perform” rating to an “under perform” rating and set a $1.50 price objective on the stock. in a research report on Friday, May 24th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Emeren Group in a research report on Wednesday, August 21st.

Institutional Investors Weigh In On Emeren Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Monaco Asset Management SAM increased its stake in Emeren Group by 40.6% in the 1st quarter. Monaco Asset Management SAM now owns 1,170,000 shares of the semiconductor company’s stock worth $2,258,000 after buying an additional 337,650 shares in the last quarter. GSA Capital Partners LLP increased its stake in Emeren Group by 9.7% in the 1st quarter. GSA Capital Partners LLP now owns 747,448 shares of the semiconductor company’s stock worth $1,443,000 after buying an additional 66,284 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in Emeren Group by 160.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 47,809 shares of the semiconductor company’s stock worth $72,000 after buying an additional 29,484 shares in the last quarter. 44.08% of the stock is currently owned by hedge funds and other institutional investors.

Emeren Group Stock Down 3.7 %

SOL stock opened at $1.81 on Monday. Emeren Group has a fifty-two week low of $1.41 and a fifty-two week high of $3.50. The business’s 50 day moving average price is $1.67 and its two-hundred day moving average price is $1.83. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.27 and a current ratio of 4.27. The company has a market capitalization of $109.01 million, a price-to-earnings ratio of -6.96 and a beta of 1.72.

Emeren Group (NYSE:SOL) last issued its quarterly earnings results on Tuesday, August 20th. The semiconductor company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Emeren Group had a negative return on equity of 3.15% and a negative net margin of 20.91%. The company had revenue of $30.06 million during the quarter, compared to the consensus estimate of $21.10 million. During the same period in the prior year, the firm earned $0.14 earnings per share. As a group, analysts forecast that Emeren Group will post 0.27 earnings per share for the current fiscal 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.