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

Shares of Emeren Group Ltd (NYSE:SOL - Get Free Report) have received an average rating of "Reduce" from the five research firms that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $4.38.

A number of analysts have recently weighed in on the company. BWS Financial reiterated a "sell" rating and set a $6.00 price target on shares of Emeren Group in a research report on Monday. HC Wainwright reaffirmed a "buy" rating and issued a $7.00 target price on shares of Emeren Group in a research report on Friday, November 15th. Roth Mkm reiterated a "buy" rating and issued a $3.00 target price on shares of Emeren Group in a research note on Wednesday, August 21st. Finally, StockNews.com upgraded shares of Emeren Group from a "sell" rating to a "hold" rating in a research report on Thursday, November 21st.

Emeren Group Stock Performance

SOL traded up $0.11 on Monday, hitting $1.89. 356,024 shares of the company's stock were exchanged, compared to its average volume of 342,442. 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 fifty day moving average of $2.20 and a two-hundred day moving average of $1.97. Emeren Group has a twelve month low of $1.41 and a twelve month high of $3.00. The firm has a market cap of $96.88 million, a PE ratio of -14.54 and a beta of 1.64.

Institutional Trading of Emeren Group

Several hedge funds have recently added to or reduced their stakes in SOL. Mercer Global Advisors Inc. ADV increased its holdings in shares of Emeren Group by 160.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 47,809 shares of the semiconductor company's stock valued at $72,000 after purchasing an additional 29,484 shares during the period. Long Run Wealth Advisors LLC bought a new position in Emeren Group in the 3rd quarter valued at about $28,000. Finally, XTX Topco Ltd bought a new position in Emeren Group in the 3rd quarter valued at about $88,000. 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.