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

Emeren Group Ltd (NYSE:SOL - Get Free Report) has earned an average recommendation of "Reduce" from the five brokerages that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $4.13.

Several research firms recently commented on SOL. HC Wainwright reaffirmed a "buy" rating and set a $7.00 price objective on shares of Emeren Group in a research report on Friday, March 14th. Roth Mkm reduced their price target on shares of Emeren Group from $3.00 to $2.00 and set a "buy" rating for the company in a research note on Monday, March 17th. BWS Financial restated a "sell" rating and set a $6.00 price objective on shares of Emeren Group in a research report on Monday, December 16th. Finally, StockNews.com lowered shares of Emeren Group from a "hold" rating to a "sell" rating in a research note on Friday, March 14th.

Emeren Group Stock Down 1.5 %

Emeren Group stock traded down $0.03 during mid-day trading on Wednesday, hitting $1.60. The company had a trading volume of 318,771 shares, compared to its average volume of 299,088. The company has a market capitalization of $81.75 million, a PE ratio of -12.27 and a beta of 1.70. The stock's 50 day moving average price is $1.69 and its two-hundred day moving average price is $2.02. Emeren Group has a 12 month low of $1.04 and a 12 month high of $3.00. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.10.

Emeren Group (NYSE:SOL - Get Free Report) last posted its quarterly 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 net margin of 7.14% and a negative return on equity of 2.05%. The firm had revenue of $34.60 million for the quarter, compared to analysts' expectations of $40.13 million. During the same quarter in the previous year, the company earned ($0.15) EPS. As a group, sell-side analysts anticipate that Emeren Group will post 0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Apollon Wealth Management LLC increased its position 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 buying an additional 9,100 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Emeren Group during the 4th quarter worth approximately $80,000. XTX Topco Ltd purchased a new position in Emeren Group during the third quarter valued at approximately $88,000. Invesco Ltd. boosted its position in shares of Emeren Group by 26.5% in the fourth quarter. Invesco Ltd. now owns 792,148 shares of the semiconductor company's stock worth $1,608,000 after purchasing 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 fourth 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. 44.08% of the stock is currently owned by institutional investors.

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.