Emeren Group Ltd (NYSE:SOL) Short Interest Update

Emeren Group Ltd (NYSE:SOL - Get Free Report) was the target of a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 1,430,000 shares, a decline of 13.9% from the August 31st total of 1,660,000 shares. Based on an average trading volume of 226,700 shares, the days-to-cover ratio is currently 6.3 days.

Analyst Ratings Changes

SOL has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $7.00 price target on shares of Emeren Group in a report on Wednesday, August 21st. Roth Mkm reaffirmed a "buy" rating and set a $3.00 target price on shares of Emeren Group in a research note on Wednesday, August 21st. Three equities research analysts have rated the stock with a sell rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Emeren Group has a consensus rating of "Hold" and a consensus price target of $4.88.

Insider Activity at Emeren Group

In related news, Chairman Shah Capital Management purchased 26,843 shares of the business's stock in a transaction that occurred 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 acquisition, the chairman now owns 18,655,151 shares in the company, valued at approximately $34,138,926.33. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 18.02% of the company's stock.

Institutional Investors Weigh In On Emeren Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV raised its position in shares of 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 worth $72,000 after purchasing an additional 29,484 shares during the period. GSA Capital Partners LLP raised its holdings 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 worth $1,443,000 after buying an additional 66,284 shares during the period. Finally, Monaco Asset Management SAM boosted its holdings in shares of Emeren Group by 40.6% in the first quarter. Monaco Asset Management SAM now owns 1,170,000 shares of the semiconductor company's stock worth $2,258,000 after buying an additional 337,650 shares during the period. 44.08% of the stock is owned by institutional investors and hedge funds.

Emeren Group Price Performance

Shares of NYSE:SOL traded up $0.02 during trading on Friday, reaching $2.39. The company had a trading volume of 771,593 shares, compared to its average volume of 373,139. Emeren Group has a twelve month low of $1.41 and a twelve month high of $3.27. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.27 and a current ratio of 4.27. The firm has a market capitalization of $122.51 million, a PE ratio of -9.19 and a beta of 1.71. The firm's fifty day moving average is $1.89 and its 200 day moving average is $1.84.

Emeren Group (NYSE:SOL - Get Free Report) last issued its quarterly earnings results 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). The firm 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 period in the previous year, the business posted $0.14 earnings per share. On average, equities analysts forecast that Emeren Group will post 0.27 EPS for the current year.

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.