Brokerages Set Emeren Group Ltd (NYSE:SOL) Target Price at $4.88

Emeren Group Ltd (NYSE:SOL) has received a consensus recommendation of “Hold” from the five analysts that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $4.88.

SOL has been the subject of a number of analyst reports. Roth Mkm reiterated a “buy” rating and set a $3.00 target price on shares of Emeren Group in a research note on Wednesday, August 21st. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Emeren Group in a research report on Wednesday, August 21st.

Insider Buying and Selling

In other news, Chairman Shah Capital Management purchased 26,843 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $1.83 per share, with a total value of $49,122.69. Following the completion of the transaction, the chairman now directly owns 18,655,151 shares in the company, valued at approximately $34,138,926.33. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 18.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On Emeren Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV boosted its holdings 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 valued at $72,000 after acquiring an additional 29,484 shares in the last quarter. GSA Capital Partners LLP lifted its position 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 period. Finally, Monaco Asset Management SAM boosted its holdings 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 valued at $2,258,000 after purchasing an additional 337,650 shares in the last quarter. 44.08% of the stock is owned by hedge funds and other institutional investors.

Emeren Group Stock Up 0.8 %

Shares of NYSE SOL opened at $2.39 on Friday. Emeren Group has a 12-month low of $1.41 and a 12-month high of $3.27. The stock has a market cap of $143.94 million, a P/E ratio of -9.19 and a beta of 1.71. The company has a current ratio of 4.27, a quick ratio of 4.27 and a debt-to-equity ratio of 0.07. The business’s fifty day simple moving average is $1.89 and its 200-day simple moving average is $1.84.

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