Emeren Group Ltd (NYSE:SOL) to Post FY2024 Earnings of $0.37 Per Share, Roth Capital Forecasts

Emeren Group Ltd (NYSE:SOL - Free Report) - Stock analysts at Roth Capital upped their FY2024 earnings per share (EPS) estimates for Emeren Group in a research report issued on Tuesday, August 20th. Roth Capital analyst P. Shen now forecasts that the semiconductor company will earn $0.37 per share for the year, up from their previous forecast of $0.28. The consensus estimate for Emeren Group's current full-year earnings is $0.29 per share. Roth Capital also issued estimates for Emeren Group's Q4 2024 earnings at $0.35 EPS and Q3 2025 earnings at $0.17 EPS.

Several other brokerages also recently issued reports on SOL. StockNews.com upgraded shares of Emeren Group to a "sell" rating in a report on Friday, May 24th. Northland Securities downgraded shares of Emeren Group from a "market perform" rating to an "under perform" rating and set a $1.50 price target for the company. in a report on Friday, May 24th. Roth Mkm reiterated a "buy" rating and set a $3.00 price target on shares of Emeren Group in a report on Wednesday. HC Wainwright reiterated a "buy" rating and set a $7.00 price target on shares of Emeren Group in a report on Wednesday. Finally, Northland Capmk downgraded shares of Emeren Group from a "hold" rating to a "strong sell" rating in a report on Friday, May 24th. Three analysts have rated the stock with a sell rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $4.88.

Emeren Group Price Performance

NYSE SOL traded up $0.08 on Friday, hitting $1.96. 169,319 shares of the company's stock were exchanged, compared to its average volume of 384,698. The stock has a 50-day moving average of $1.63 and a 200-day moving average of $1.83. The company has a current ratio of 3.65, a quick ratio of 3.97 and a debt-to-equity ratio of 0.09. Emeren Group has a 52 week low of $1.41 and a 52 week high of $3.50. The stock has a market cap of $118.04 million, a price-to-earnings ratio of -7.19 and a beta of 1.72.

Emeren Group (NYSE:SOL - Get Free Report) last released its earnings results on Monday, August 19th. The semiconductor company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). Emeren Group had a negative return on equity of 0.89% and a negative net margin of 12.70%. The business had revenue of $30.06 million for the quarter, compared to the consensus estimate of $21.10 million. During the same quarter in the previous year, the company earned $0.14 earnings per share.

Institutional Trading of Emeren Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Shah Capital Management bought a new stake in Emeren Group during the fourth quarter valued at $50,885,000. Monaco Asset Management SAM boosted its position in Emeren Group by 40.6% during the first quarter. Monaco Asset Management SAM now owns 1,170,000 shares of the semiconductor company's stock valued at $2,258,000 after acquiring an additional 337,650 shares during the last quarter. GSA Capital Partners LLP boosted its position in Emeren Group by 9.7% during the first quarter. GSA Capital Partners LLP now owns 747,448 shares of the semiconductor company's stock valued at $1,443,000 after acquiring an additional 66,284 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its position in Emeren Group by 160.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 47,809 shares of the semiconductor company's stock valued at $72,000 after acquiring an additional 29,484 shares during the last quarter. 44.08% of the stock is currently owned by institutional investors and hedge funds.

About Emeren Group

Emeren Group Ltd, through its subsidiaries, develops, builds, operates, and sells solar power projects. It owns and operates 3 gigawatt pipeline of projects and independent power producer assets. The company also develops community solar gardens; and sells project rights. In addition, it engages in engineering design; procurement of solar modules; balance-of-system components and other components; and construction contracting and management services.