Emeren Group Ltd (NYSE:SOL) Shares Sold by Monaco Asset Management SAM

Monaco Asset Management SAM decreased its position in shares of Emeren Group Ltd (NYSE:SOL - Free Report) by 44.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 647,745 shares of the semiconductor company's stock after selling 522,255 shares during the quarter. Monaco Asset Management SAM owned 1.08% of Emeren Group worth $972,000 as of its most recent SEC filing.

Separately, GSA Capital Partners LLP increased its stake in shares of Emeren Group by 9.7% in 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 in the last quarter. Institutional investors and hedge funds own 44.08% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SOL shares. HC Wainwright reissued a "buy" rating and issued a $7.00 price objective on shares of Emeren Group in a report on Wednesday, August 21st. Northland Securities lowered 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. Northland Capmk downgraded shares of Emeren Group from a "hold" rating to a "strong sell" rating in a report on Friday, May 24th. StockNews.com raised shares of Emeren Group to a "sell" rating in a research note on Friday, May 24th. Finally, Roth Mkm reaffirmed a "buy" rating and issued a $3.00 price target on shares of Emeren Group in a research note on Wednesday, August 21st. 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 MarketBeat, the company has an average rating of "Hold" and a consensus price target of $4.88.

Emeren Group Price Performance

Shares of Emeren Group stock traded up $0.20 during trading hours on Tuesday, reaching $2.29. 488,838 shares of the company's stock were exchanged, compared to its average volume of 374,389. The business has a fifty day moving average of $1.72 and a two-hundred day moving average of $1.82. The company has a market capitalization of $117.39 million, a P/E ratio of -8.62 and a beta of 1.71. The company has a quick ratio of 4.27, a current ratio of 4.27 and a debt-to-equity ratio of 0.07. Emeren Group Ltd has a 1 year low of $1.41 and a 1 year high of $3.30.

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 for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). The business had revenue of $30.06 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the firm posted $0.14 earnings per share. As a group, research analysts predict that Emeren Group Ltd will post 0.27 earnings per share for the current fiscal year.

Insider Activity at Emeren Group

In related news, Chairman Shah Capital Management bought 26,843 shares of the business's stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average cost of $1.83 per share, with a total value of $49,122.69. Following the purchase, the chairman now directly owns 18,655,151 shares of the company's stock, valued at $34,138,926.33. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 18.02% of the company's stock.

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.