Emeren Group Ltd (NYSE:SOL) Given Consensus Recommendation of “Reduce” by Brokerages

Emeren Group Ltd (NYSE:SOL) has earned an average recommendation of “Reduce” from the five ratings firms that are covering the firm, Marketbeat Ratings reports. Three 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 updated their coverage on the stock in the last year is $4.38.

Several brokerages recently issued reports on SOL. HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Emeren Group in a report on Friday, November 15th. BWS Financial reiterated a “sell” rating and issued a $6.00 price target on shares of Emeren Group in a report on Monday, December 16th. Finally, StockNews.com upgraded shares of Emeren Group from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Long Run Wealth Advisors LLC bought a new position in shares of Emeren Group during the third quarter worth about $28,000. XTX Topco Ltd acquired a new stake in shares of Emeren Group in the third quarter valued at approximately $88,000. Finally, Mercer Global Advisors Inc. ADV lifted its position in shares of Emeren Group by 160.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 47,809 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 29,484 shares in the last quarter. Institutional investors own 44.08% of the company’s stock.

Emeren Group Stock Down 6.2 %

Shares of SOL opened at $2.11 on Friday. The company has a 50-day moving average price of $2.01 and a two-hundred day moving average price of $2.01. Emeren Group has a 12 month low of $1.41 and a 12 month high of $3.00. The stock has a market cap of $108.15 million, a price-to-earnings ratio of -16.23 and a beta of 1.63. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.10.

About Emeren Group

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.