Emeren Group Ltd (NYSE:SOL - Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.01 and traded as high as $2.30. Emeren Group shares last traded at $2.25, with a volume of 407,857 shares.
Analysts Set New Price Targets
Several research firms have commented on SOL. BWS Financial reaffirmed a "sell" rating and set a $6.00 price objective on shares of Emeren Group in a report on Monday, December 16th. HC Wainwright restated a "buy" rating and set 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. Three analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $4.38.
Check Out Our Latest Stock Analysis on Emeren Group
Emeren Group Trading Down 6.2 %
The firm's 50 day moving average is $2.02 and its 200 day moving average is $2.01. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.34 and a quick ratio of 4.34. The company has a market cap of $108.15 million, a PE ratio of -16.23 and a beta of 1.63.
Hedge Funds Weigh In On Emeren Group
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd purchased a new position in Emeren Group in the 3rd quarter worth approximately $88,000. Long Run Wealth Advisors LLC bought a new stake in shares of Emeren Group during the 3rd quarter worth $28,000. Finally, Mercer Global Advisors Inc. ADV grew its position in Emeren Group by 160.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 47,809 shares of the semiconductor company's stock worth $72,000 after acquiring an additional 29,484 shares in the last quarter. 44.08% of the stock is currently owned by hedge funds and other institutional investors.
About Emeren Group
(
Get Free Report)
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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