Emeren Group Ltd (NYSE:SOL - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.99 and traded as high as $2.06. Emeren Group shares last traded at $2.00, with a volume of 500,103 shares.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the company. 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. BWS Financial reiterated a "sell" rating and issued a $6.00 target price on shares of Emeren Group in a research report on Monday, December 16th. Finally, StockNews.com upgraded Emeren Group from a "sell" rating to a "hold" rating in a report on Thursday, November 21st. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $4.38.
Get Our Latest Analysis on Emeren Group
Emeren Group Stock Performance
The firm has a market capitalization of $104.05 million, a P/E ratio of -15.62 and a beta of 1.64. The company has a 50-day moving average of $2.07 and a 200-day moving average of $1.99. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.10.
Hedge Funds Weigh In On Emeren Group
A number of hedge funds have recently made changes to their positions in SOL. Long Run Wealth Advisors LLC acquired a new stake in Emeren Group during the 3rd quarter valued at approximately $28,000. Mercer Global Advisors Inc. ADV boosted its stake in shares of Emeren Group by 160.9% in the 2nd 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 last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Emeren Group during the third quarter worth $88,000. 44.08% of the stock is currently owned by institutional investors.
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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