Emeren Group Ltd (NYSE:SOL) Given Consensus Recommendation of "Reduce" by Analysts

Shares of Emeren Group Ltd (NYSE:SOL - Get Free Report) have been assigned an average rating of "Reduce" from the five research firms that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $4.13.

SOL has been the subject of several recent analyst reports. StockNews.com downgraded shares of Emeren Group from a "hold" rating to a "sell" rating in a research note on Friday, March 14th. Roth Mkm lowered their price target on Emeren Group from $3.00 to $2.00 and set a "buy" rating for the company in a research report on Monday, March 17th. Finally, HC Wainwright reiterated a "buy" rating and issued a $7.00 price objective on shares of Emeren Group in a research report on Friday, March 14th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Apollon Wealth Management LLC boosted 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 valued at $59,000 after purchasing an additional 9,100 shares in the last quarter. XTX Topco Ltd purchased a new position in Emeren Group during the third quarter valued at $88,000. Raymond James Financial Inc. bought a new stake in shares of Emeren Group during the 4th quarter valued at $80,000. Invesco Ltd. grew its position in shares of Emeren Group by 26.5% in the 4th quarter. Invesco Ltd. now owns 792,148 shares of the semiconductor company's stock worth $1,608,000 after buying an additional 165,902 shares during the period. Finally, Monaco Asset Management SAM increased its stake 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 acquiring an additional 486,063 shares in the last quarter. Hedge funds and other institutional investors own 44.08% of the company's stock.

Emeren Group Trading Up 7.2 %

Shares of SOL stock opened at $1.27 on Friday. The business has a 50-day moving average of $1.53 and a 200 day moving average of $1.91. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.34 and a quick ratio of 4.34. Emeren Group has a 1-year low of $1.04 and a 1-year high of $3.00. The stock has a market capitalization of $64.84 million, a PE ratio of -9.73 and a beta of 1.75.

Emeren Group (NYSE:SOL - Get Free Report) last released its quarterly earnings data on Thursday, March 13th. The semiconductor company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.31). Emeren Group had a negative net margin of 7.14% and a negative return on equity of 2.05%. The company had revenue of $34.60 million for the quarter, compared to analysts' expectations of $40.13 million. During the same period last year, the company posted ($0.15) EPS. As a group, sell-side analysts anticipate that Emeren Group will post 0.1 earnings per share 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.

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