Emeren Group’s (SOL) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Emeren Group (NYSE:SOL) in a research note published on Friday,Benzinga reports. They currently have a $7.00 target price on the semiconductor company’s stock. HC Wainwright also issued estimates for Emeren Group’s FY2025 earnings at $0.56 EPS.

Several other research analysts also recently weighed in on SOL. StockNews.com downgraded shares of Emeren Group from a “hold” rating to a “sell” rating in a research note on Wednesday, November 13th. Roth Mkm reissued a “buy” rating and set a $3.00 price target on shares of Emeren Group in a research note on Wednesday, August 21st. Three research analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $3.83.

Emeren Group Price Performance

SOL stock opened at $2.01 on Friday. The company has a market cap of $103.03 million, a price-to-earnings ratio of -15.46 and a beta of 1.73. 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 firm has a 50 day moving average of $2.42 and a 200-day moving average of $1.98. Emeren Group has a 12-month low of $1.41 and a 12-month high of $3.00.

Emeren Group (NYSE:SOL) last released its quarterly earnings data on Tuesday, August 20th. The semiconductor company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). Emeren Group had a negative return on equity of 2.05% and a negative net margin of 7.14%. The business had revenue of $30.06 million during the quarter, compared to analysts’ expectations of $21.10 million. During the same quarter in the prior year, the firm earned $0.14 earnings per share. As a group, equities analysts expect that Emeren Group will post 0.33 EPS for the current fiscal year.

Insider Buying and Selling at Emeren Group

In other Emeren Group news, Chairman Shah Capital Management bought 26,843 shares of Emeren Group stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of $1.83 per share, for a total transaction of $49,122.69. Following the acquisition, the chairman now owns 18,655,151 shares of the company’s stock, valued at $34,138,926.33. The trade was a 0.14 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 37.31% of the stock is owned by company insiders.

Institutional Trading of Emeren Group

A number of hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new stake in shares of Emeren Group during the 3rd quarter valued at approximately $88,000. Mercer Global Advisors Inc. ADV boosted its holdings in shares of 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 valued at $72,000 after buying an additional 29,484 shares during the period. Finally, Long Run Wealth Advisors LLC bought a new stake in shares of Emeren Group during the 3rd quarter valued at about $28,000. Institutional investors and hedge funds own 44.08% of the company’s stock.

Emeren Group Company Profile

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.