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

Shares of Emeren Group Ltd (NYSE:SOL) have been given a consensus recommendation of “Reduce” by the five brokerages that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $4.13.

Several analysts recently weighed in on the stock. Roth Mkm cut their price target on shares of Emeren Group from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Monday, March 17th. BWS Financial reaffirmed a “sell” rating and set 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. Finally, HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Emeren Group in a report on Friday, March 14th.

Institutional Trading of Emeren Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Apollon Wealth Management LLC boosted its stake in Emeren Group by 45.5% during the fourth quarter. Apollon Wealth Management LLC now owns 29,100 shares of the semiconductor company’s stock worth $59,000 after acquiring an additional 9,100 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Emeren Group in the 3rd quarter worth approximately $88,000. Raymond James Financial Inc. bought a new position in Emeren Group during the 4th quarter valued at approximately $80,000. Invesco Ltd. raised its stake in Emeren Group by 26.5% during the fourth quarter. Invesco Ltd. now owns 792,148 shares of the semiconductor company’s stock valued at $1,608,000 after buying an additional 165,902 shares during the last quarter. Finally, Monaco Asset Management SAM raised its stake 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 valued at $3,751,000 after buying an additional 486,063 shares during the last quarter. 44.08% of the stock is owned by hedge funds and other institutional investors.

Emeren Group Stock Performance

Shares of NYSE:SOL opened at $1.66 on Wednesday. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.10. The company has a market cap of $85.08 million, a price-to-earnings ratio of -12.77 and a beta of 1.70. Emeren Group has a 12 month low of $1.04 and a 12 month high of $3.00. The company has a 50-day moving average price of $1.71 and a 200-day moving average price of $2.03.

Emeren Group (NYSE:SOL) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $40.13 million. Emeren Group had a negative net margin of 7.14% and a negative return on equity of 2.05%. During the same period in the previous year, the company earned ($0.15) EPS. As a group, equities analysts anticipate that Emeren Group will post 0.1 EPS for the current year.

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.