Emeren Group Ltd (NYSE:SOL - Get Free Report) Chairman Shah Capital Management acquired 12,710 shares of Emeren Group stock in a transaction that occurred on Thursday, December 12th. The stock was bought at an average price of $1.77 per share, with a total value of $22,496.70. Following the purchase, the chairman now directly owns 18,755,172 shares of the company's stock, valued at approximately $33,196,654.44. This trade represents a 0.07 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.
Emeren Group Stock Performance
Shares of NYSE:SOL traded up $0.12 during trading on Monday, hitting $1.90. 355,590 shares of the company traded hands, compared to its average volume of 342,442. 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 business's fifty day moving average is $2.22 and its 200-day moving average is $1.97. The stock has a market capitalization of $97.39 million, a price-to-earnings ratio of -14.46 and a beta of 1.64. Emeren Group Ltd has a one year low of $1.41 and a one year high of $3.00.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of SOL. Mercer Global Advisors Inc. ADV lifted its position in shares of Emeren Group by 160.9% during the 2nd 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 during the last quarter. XTX Topco Ltd acquired a new stake in shares of Emeren Group during the third quarter valued at approximately $88,000. Finally, Long Run Wealth Advisors LLC acquired a new position in Emeren Group in the 3rd quarter worth approximately $28,000. Institutional investors own 44.08% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the stock. Roth Mkm reissued a "buy" rating and set a $3.00 price objective on shares of Emeren Group in a research note on Wednesday, August 21st. StockNews.com raised shares of Emeren Group from a "sell" rating to a "hold" rating in a research note on Thursday, November 21st. BWS Financial reaffirmed a "sell" rating and set a $6.00 price objective on shares of Emeren Group in a research note on Monday. Finally, HC Wainwright reaffirmed a "buy" rating and set a $7.00 price target on shares of Emeren Group in a research report on Friday, November 15th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $4.38.
Check Out Our Latest Stock Report on SOL
About Emeren Group
(
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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.
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