Emeren Group Ltd (NYSE:SOL) Receives Average Rating of "Reduce" from Brokerages

Emeren Group Ltd (NYSE:SOL - Get Free Report) has been assigned a consensus recommendation of "Reduce" from the five ratings firms that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation and two have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $4.38.

Several research firms have commented on SOL. 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. HC Wainwright reiterated a "buy" rating and issued a $7.00 price target on shares of Emeren Group in a research note on Friday, November 15th. Finally, StockNews.com upgraded shares of Emeren Group from a "sell" rating to a "hold" rating in a research note on Thursday, November 21st.

Institutional Investors Weigh In On Emeren Group

Several institutional investors have recently modified their holdings of the business. XTX Topco Ltd purchased a new position in Emeren Group in the 3rd quarter worth about $88,000. Shah Capital Management raised its holdings in shares of Emeren Group by 0.4% during the fourth quarter. Shah Capital Management now owns 18,818,236 shares of the semiconductor company's stock valued at $38,201,000 after purchasing an additional 69,374 shares during the last quarter. Long Run Wealth Advisors LLC purchased a new position in shares of Emeren Group during the third quarter valued at approximately $28,000. Raymond James Financial Inc. bought a new position in Emeren Group during the fourth quarter valued at approximately $80,000. Finally, Apollon Wealth Management LLC boosted its holdings in Emeren Group by 45.5% in the fourth quarter. Apollon Wealth Management LLC now owns 29,100 shares of the semiconductor company's stock worth $59,000 after purchasing an additional 9,100 shares during the last quarter. 44.08% of the stock is owned by hedge funds and other institutional investors.

Emeren Group Stock Down 0.3 %

Shares of SOL traded down $0.01 during mid-day trading on Tuesday, reaching $1.75. The company had a trading volume of 125,121 shares, compared to its average volume of 219,856. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.34 and a current ratio of 4.34. The company has a market capitalization of $89.45 million, a price-to-earnings ratio of -13.42 and a beta of 1.61. The firm has a 50-day moving average price of $1.95 and a 200 day moving average price of $2.05. Emeren Group has a 52 week low of $1.41 and a 52 week high of $3.00.

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.