Analysts Set Emeren Group Ltd (NYSE:SOL) Price Target at $4.88

Emeren Group Ltd (NYSE:SOL - Get Free Report) has earned an average rating of "Hold" from the five ratings firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $4.88.

A number of equities analysts have recently weighed in on SOL shares. 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. HC Wainwright reiterated a "buy" rating and issued a $7.00 target price on shares of Emeren Group in a research report on Wednesday, August 21st.

Emeren Group Price Performance

Shares of SOL remained flat at $2.37 during trading hours on Friday. The company had a trading volume of 130,197 shares, compared to its average volume of 369,341. The firm has a 50 day moving average price of $1.88 and a two-hundred day moving average price of $1.84. Emeren Group has a one year low of $1.41 and a one year high of $3.27. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.27 and a quick ratio of 4.27. The company has a market cap of $121.49 million, a price-to-earnings ratio of -9.12 and a beta of 1.71.

Emeren Group (NYSE:SOL - Get Free Report) last released its quarterly earnings data on Tuesday, August 20th. The semiconductor company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). The business had revenue of $30.06 million during the quarter, compared to the consensus estimate of $21.10 million. Emeren Group had a negative return on equity of 3.15% and a negative net margin of 20.91%. During the same period last year, the company earned $0.14 EPS. As a group, analysts anticipate that Emeren Group will post 0.27 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Shah Capital Management bought 26,843 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average cost of $1.83 per share, for a total transaction of $49,122.69. Following the completion of the transaction, the chairman now owns 18,655,151 shares of the company's stock, valued at $34,138,926.33. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 18.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On Emeren Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP grew its stake in Emeren Group by 9.7% in the first quarter. GSA Capital Partners LLP now owns 747,448 shares of the semiconductor company's stock worth $1,443,000 after purchasing an additional 66,284 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in 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 acquiring an additional 29,484 shares during the last quarter. Finally, Monaco Asset Management SAM raised its stake in shares of Emeren Group by 40.6% during the 1st quarter. Monaco Asset Management SAM now owns 1,170,000 shares of the semiconductor company's stock valued at $2,258,000 after buying an additional 337,650 shares during the last quarter. 44.08% of the stock is currently owned by hedge funds and other institutional investors.

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.