Brokerages Set Emeren Group Ltd (NYSE:SOL) PT at $4.13

Emeren Group Ltd (NYSE:SOL) has earned a consensus recommendation of “Reduce” from the five ratings firms that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $4.13.

A number of equities research analysts have commented on the stock. Roth Mkm decreased their target price on shares of Emeren Group from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Emeren Group in a research report on Friday, March 14th. BWS Financial reissued a “sell” rating and issued a $6.00 target price on shares of Emeren Group in a report on Monday, December 16th. Finally, StockNews.com cut Emeren Group from a “hold” rating to a “sell” rating in a research note on Friday, March 14th.

Emeren Group Stock Down 1.5 %

Shares of SOL stock opened at $1.60 on Wednesday. Emeren Group has a 12 month low of $1.04 and a 12 month high of $3.00. The company has a 50 day simple moving average of $1.69 and a two-hundred day simple moving average of $2.02. 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 stock has a market cap of $81.75 million, a P/E ratio of -12.27 and a beta of 1.70.

Emeren Group (NYSE:SOL) last announced its 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). Emeren Group had a negative return on equity of 2.05% and a negative net margin of 7.14%. The company had revenue of $34.60 million during the quarter, compared to the consensus estimate of $40.13 million. During the same period in the prior year, the business posted ($0.15) earnings per share. On average, research analysts expect that Emeren Group will post 0.1 earnings per share for the current year.

Hedge Funds Weigh In On Emeren Group

Several hedge funds have recently bought and sold shares of the business. Apollon Wealth Management LLC increased its position in shares of 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 during the period. Raymond James Financial Inc. purchased a new stake in Emeren Group during the fourth quarter valued at approximately $80,000. XTX Topco Ltd acquired a new position in shares of Emeren Group during the third quarter worth $88,000. Invesco Ltd. lifted its holdings in shares of Emeren Group by 26.5% during the 4th quarter. Invesco Ltd. now owns 792,148 shares of the semiconductor company’s stock valued at $1,608,000 after purchasing an additional 165,902 shares during the last quarter. Finally, Monaco Asset Management SAM boosted its position in shares of Emeren Group by 35.7% in the 4th 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 in the last quarter. Institutional investors own 44.08% of the company’s stock.

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.