Emeren Group (NYSE:SOL) Receives “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Emeren Group (NYSE:SOL) in a report released on Friday,Benzinga reports. They currently have a $7.00 price objective on the semiconductor company’s stock.

A number of other equities analysts also recently weighed in on the stock. BWS Financial restated a “sell” rating and set a $6.00 target price on shares of Emeren Group in a report on Monday, December 16th. StockNews.com upgraded shares of Emeren Group from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. Four research analysts have rated the stock with a sell rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $4.38.

Emeren Group Stock Performance

Shares of SOL stock opened at $1.19 on Friday. The company’s fifty day simple moving average is $1.77 and its 200-day simple moving average is $2.04. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.10. The firm has a market cap of $60.74 million, a PE ratio of -9.12 and a beta of 1.70. Emeren Group has a 12 month low of $1.04 and a 12 month high of $3.00.

Emeren Group (NYSE:SOL) last announced its quarterly earnings data on Thursday, March 13th. The semiconductor company reported ($0.23) EPS 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 period in the prior year, the firm earned ($0.15) EPS. Equities research analysts expect that Emeren Group will post 0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Emeren Group

Several institutional investors and hedge funds have recently modified their holdings of SOL. Apollon Wealth Management LLC grew its stake in shares of Emeren Group by 45.5% in the fourth quarter. Apollon Wealth Management LLC now owns 29,100 shares of the semiconductor company’s stock valued at $59,000 after acquiring an additional 9,100 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Emeren Group in the third quarter valued at about $88,000. Raymond James Financial Inc. acquired a new position in shares of Emeren Group in the fourth quarter valued at about $80,000. Invesco Ltd. grew 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 acquiring an additional 165,902 shares in the last quarter. Finally, Monaco Asset Management SAM lifted its position in 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 period. 44.08% of the stock is currently owned by institutional investors and hedge funds.

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.