Emeren Group (SOL) Set to Announce Earnings on Thursday

Emeren Group (NYSE:SOL - Get Free Report) is scheduled to be issuing its quarterly earnings data after the market closes on Thursday, November 14th. Analysts expect the company to announce earnings of $0.09 per share for the quarter. Emeren Group has set its FY 2024 guidance at EPS and its Q3 2024 guidance at EPS.Persons interested in registering for the company's earnings conference call can do so using this link.

Emeren Group (NYSE:SOL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 20th. The semiconductor company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). Emeren Group had a negative net margin of 20.91% and a negative return on equity of 3.15%. The firm had revenue of $30.06 million for the quarter, compared to analyst estimates of $21.10 million. During the same quarter in the prior year, the firm earned $0.14 earnings per share. On average, analysts expect Emeren Group to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Emeren Group Price Performance

Emeren Group stock traded up $0.01 during midday trading on Thursday, reaching $2.21. The company's stock had a trading volume of 101,713 shares, compared to its average volume of 354,495. The business has a 50-day moving average price of $2.39 and a 200-day moving average price of $1.96. Emeren Group has a 52 week low of $1.41 and a 52 week high of $3.00. The company has a current ratio of 4.27, a quick ratio of 4.27 and a debt-to-equity ratio of 0.07. The stock has a market cap of $113.27 million, a PE ratio of -5.64 and a beta of 1.73.

Analyst Upgrades and Downgrades

SOL has been the subject of a number of research reports. HC Wainwright reiterated a "buy" rating and issued a $7.00 price target on shares of Emeren Group in a research note on Wednesday, August 21st. StockNews.com raised shares of Emeren Group from a "sell" rating to a "hold" rating in a research note on Tuesday. Finally, Roth Mkm restated a "buy" rating and set a $3.00 price objective on shares of Emeren Group in a research report on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, one has issued 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 a consensus target price of $3.83.

Insiders Place Their Bets

In other news, Chairman Shah Capital Management bought 26,843 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $1.83 per share, with a total value of $49,122.69. Following the completion of the transaction, the chairman now directly owns 18,655,151 shares of the company's stock, valued at $34,138,926.33. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 37.31% 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.