Emeren Group (NYSE:SOL) Receives Buy Rating from Roth Mkm

Emeren Group (NYSE:SOL - Get Free Report)'s stock had its "buy" rating restated by research analysts at Roth Mkm in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $3.00 price objective on the semiconductor company's stock. Roth Mkm's price objective points to a potential upside of 53.85% from the company's previous close.

SOL has been the subject of a number of other reports. Northland Capmk downgraded shares of Emeren Group from a "hold" rating to a "strong sell" rating in a research report on Friday, May 24th. Northland Securities lowered Emeren Group from a "market perform" rating to an "under perform" rating and set a $1.50 price objective for the company. in a research note on Friday, May 24th. StockNews.com upgraded Emeren Group to a "sell" rating in a research note on Friday, May 24th. Finally, HC Wainwright reiterated a "buy" rating and set a $7.00 price target on shares of Emeren Group in a research report on Wednesday. Three research 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. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $4.88.

Emeren Group Stock Up 5.4 %

Shares of SOL traded up $0.10 during mid-day trading on Wednesday, hitting $1.95. 644,295 shares of the company traded hands, compared to its average volume of 386,027. The business has a 50 day moving average of $1.62 and a 200 day moving average of $1.83. The company has a market capitalization of $99.88 million, a PE ratio of -7.50 and a beta of 1.72. The company has a quick ratio of 3.97, a current ratio of 3.65 and a debt-to-equity ratio of 0.09. Emeren Group has a 1-year low of $1.41 and a 1-year high of $3.50.

Emeren Group (NYSE:SOL - Get Free Report) last posted 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 company had revenue of $30.06 million during the quarter, compared to analysts' expectations of $21.10 million. Emeren Group had a negative return on equity of 0.89% and a negative net margin of 12.70%. During the same period in the prior year, the business posted $0.14 EPS. Equities research analysts anticipate that Emeren Group will post 0.29 EPS for the current year.

Institutional Investors Weigh In On Emeren Group

Several hedge funds have recently modified their holdings of the company. Shah Capital Management acquired a new position in shares of Emeren Group during the 4th quarter worth approximately $50,885,000. Monaco Asset Management SAM raised its position in Emeren Group by 49.6% during the fourth quarter. Monaco Asset Management SAM now owns 832,350 shares of the semiconductor company's stock worth $2,272,000 after acquiring an additional 276,023 shares during the period. GSA Capital Partners LLP raised 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 worth $1,443,000 after acquiring an additional 66,284 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its holdings 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 purchasing an additional 29,484 shares in the last quarter. 44.08% of the stock is owned by hedge funds and other institutional investors.

Emeren Group Company Profile

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.