Emeren Group Ltd (NYSE:SOL - Get Free Report) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.95 and traded as high as $2.58. Emeren Group shares last traded at $2.47, with a volume of 146,423 shares changing hands.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on SOL shares. StockNews.com upgraded Emeren Group from a "sell" rating to a "hold" rating in a report on Tuesday. Roth Mkm restated a "buy" rating and issued a $3.00 price target on shares of Emeren Group in a report on Wednesday, August 21st. Finally, HC Wainwright reiterated a "buy" rating and set a $7.00 price objective on shares of Emeren Group in a report on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Emeren Group presently has an average rating of "Hold" and a consensus target price of $3.83.
Check Out Our Latest Analysis on Emeren Group
Emeren Group Stock Performance
The company's 50-day moving average is $2.37 and its two-hundred day moving average is $1.95. The firm has a market cap of $134.81 million, a P/E ratio of -6.74 and a beta of 1.73. 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 (NYSE:SOL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 20th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). Emeren Group had a negative return on equity of 3.15% and a negative net margin of 20.91%. The company had revenue of $30.06 million for the quarter, compared to analysts' expectations of $21.10 million. During the same period last year, the company posted $0.14 EPS. As a group, equities analysts predict that Emeren Group Ltd will post 0.33 EPS for the current fiscal year.
Insider Transactions at Emeren Group
In related news, Chairman Shah Capital Management acquired 26,843 shares of the company's stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average price of $1.83 per share, with a total value of $49,122.69. Following the completion of the purchase, the chairman now owns 18,655,151 shares in the company, valued at $34,138,926.33. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 37.31% of the company's stock.
Hedge Funds Weigh In On Emeren Group
A number of hedge funds and other institutional investors have recently made changes to their positions in SOL. GSA Capital Partners LLP increased its position in Emeren Group by 9.7% during the 1st quarter. GSA Capital Partners LLP now owns 747,448 shares of the semiconductor company's stock valued at $1,443,000 after purchasing an additional 66,284 shares during the period. Monaco Asset Management SAM increased its position in shares of 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 buying an additional 337,650 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in Emeren Group by 160.9% in the second 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 in the last quarter. Finally, Long Run Wealth Advisors LLC purchased a new stake in Emeren Group in the third quarter worth about $28,000. Institutional investors own 44.08% of the company's stock.
About Emeren Group
(
Get Free Report)
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.
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