Emeren Group (NYSE:SOL) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Emeren Group (NYSE:SOL - Free Report) in a research report sent to investors on Friday,Benzinga reports. They currently have a $7.00 price target on the semiconductor company's stock.

SOL has been the subject of several other reports. Roth Mkm reaffirmed a "buy" rating and issued a $3.00 price objective on shares of Emeren Group in a research note on Wednesday, August 21st. StockNews.com cut Emeren Group from a "hold" rating to a "sell" rating in a research report on Wednesday. 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 data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $3.83.

Emeren Group Price Performance

Shares of SOL traded down $0.11 during mid-day trading on Friday, hitting $1.89. The company's stock had a trading volume of 269,769 shares, compared to its average volume of 352,671. The company has a current ratio of 4.27, a quick ratio of 4.27 and a debt-to-equity ratio of 0.07. Emeren Group has a 1-year low of $1.41 and a 1-year high of $3.00. The firm has a market capitalization of $96.87 million, a P/E ratio of -13.92 and a beta of 1.73. The firm has a 50-day simple moving average of $2.42 and a 200 day simple moving average of $1.97.

Emeren Group (NYSE:SOL - Get Free Report) last released its earnings results on Tuesday, August 20th. The semiconductor company reported $0.01 EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $30.06 million during the quarter, compared to analyst estimates of $21.10 million. During the same period last year, the business posted $0.14 EPS. Analysts predict that Emeren Group will post 0.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other Emeren Group news, Chairman Shah Capital Management acquired 26,843 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average price 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 in the company, valued at approximately $34,138,926.33. This trade represents a 0.14 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 37.31% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Emeren Group

An institutional investor recently bought a new position in Emeren Group stock. Long Run Wealth Advisors LLC acquired a new stake in shares of Emeren Group Ltd (NYSE:SOL - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,300 shares of the semiconductor company's stock, valued at approximately $28,000. Hedge funds and other institutional investors own 44.08% 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.