GSA Capital Partners LLP Sells 300,663 Shares of Emeren Group Ltd (NYSE:SOL)

GSA Capital Partners LLP cut its holdings in Emeren Group Ltd (NYSE:SOL - Free Report) by 36.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 515,025 shares of the semiconductor company's stock after selling 300,663 shares during the quarter. GSA Capital Partners LLP owned approximately 1.00% of Emeren Group worth $1,391,000 as of its most recent SEC filing.

Separately, Mercer Global Advisors Inc. ADV grew its position 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 worth $72,000 after buying an additional 29,484 shares during the period. 44.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Roth Mkm reaffirmed a "buy" rating and issued a $3.00 target price on shares of Emeren Group in a research report on Wednesday, August 21st. StockNews.com downgraded shares of Emeren Group from a "hold" rating to a "sell" rating in a research report on Wednesday. Finally, HC Wainwright reissued a "buy" rating and set a $7.00 price objective on shares of Emeren Group in a research report on Wednesday, August 21st. Three research analysts have rated the stock with a sell rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $3.83.

Emeren Group Stock Performance

Shares of SOL stock traded down $0.02 during trading hours on Thursday, reaching $2.05. The company had a trading volume of 109,107 shares, compared to its average volume of 352,298. The business has a fifty day moving average price of $2.42 and a 200-day moving average price of $1.97. Emeren Group Ltd has a one year low of $1.41 and a one year high of $3.00. The firm has a market cap of $105.08 million, a PE ratio of -5.28 and a beta of 1.73. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.27 and a current ratio of 4.27.

Emeren Group (NYSE:SOL - Get Free Report) last announced its earnings results on Tuesday, August 20th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $30.06 million for the quarter, compared to the consensus estimate of $21.10 million. Emeren Group had a negative net margin of 20.91% and a negative return on equity of 3.15%. During the same quarter last year, the firm posted $0.14 earnings per share. Sell-side analysts predict that Emeren Group Ltd will post 0.33 earnings per share for the current fiscal year.

Insider Activity at Emeren Group

In other news, Chairman Shah Capital Management purchased 26,843 shares of the stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $1.83 per share, with a total value of $49,122.69. Following the completion of the acquisition, 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 legal filing with the SEC, which is available through the SEC website. 37.31% of the stock is currently owned by company insiders.

Emeren Group Company Profile

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.