Roth Mkm Has Lowered Expectations for Emeren Group (NYSE:SOL) Stock Price

Emeren Group (NYSE:SOL - Get Free Report) had its price target decreased by investment analysts at Roth Mkm from $3.00 to $2.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the semiconductor company's stock. Roth Mkm's price objective indicates a potential upside of 20.12% from the stock's previous close.

A number of other brokerages have also recently weighed in on SOL. StockNews.com cut Emeren Group from a "hold" rating to a "sell" rating in a research report on Friday, March 14th. BWS Financial reiterated a "sell" rating and set a $6.00 target price on shares of Emeren Group in a research report on Monday, December 16th. Finally, HC Wainwright restated a "buy" rating and issued a $7.00 price target on shares of Emeren Group in a research report on Friday, March 14th. Four analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Emeren Group has an average rating of "Hold" and a consensus price target of $4.13.

Emeren Group Stock Performance

NYSE:SOL traded down $0.05 during midday trading on Monday, reaching $1.67. The stock had a trading volume of 195,967 shares, compared to its average volume of 305,912. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.34 and a quick ratio of 4.34. The firm's fifty day simple moving average is $1.73 and its 200-day simple moving average is $2.03. The stock has a market capitalization of $85.34 million, a P/E ratio of -12.81 and a beta of 1.70. Emeren Group has a 1-year low of $1.04 and a 1-year high of $3.00.

Remove Ads

Emeren Group (NYSE:SOL - Get Free Report) last posted its quarterly earnings data on Thursday, March 13th. The semiconductor company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.31). The company had revenue of $34.60 million for the quarter, compared to the consensus estimate of $40.13 million. Emeren Group had a negative return on equity of 2.05% and a negative net margin of 7.14%. During the same quarter in the previous year, the firm posted ($0.15) EPS. On average, equities research analysts forecast that Emeren Group will post 0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Emeren Group

Several hedge funds have recently made changes to their positions in SOL. XTX Topco Ltd acquired a new stake in Emeren Group in the 3rd quarter valued at about $88,000. Shah Capital Management lifted its position in Emeren Group by 0.4% during the fourth quarter. Shah Capital Management now owns 18,818,236 shares of the semiconductor company's stock worth $38,201,000 after purchasing an additional 69,374 shares during the period. Apollon Wealth Management LLC raised its position in Emeren Group by 45.5% during the fourth quarter. Apollon Wealth Management LLC now owns 29,100 shares of the semiconductor company's stock valued at $59,000 after purchasing an additional 9,100 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Emeren Group in the 4th quarter valued at approximately $80,000. Finally, Monaco Asset Management SAM increased its holdings in shares of Emeren Group by 35.7% during the fourth quarter. Monaco Asset Management SAM now owns 1,847,764 shares of the semiconductor company's stock worth $3,751,000 after buying an additional 486,063 shares in the last quarter. 44.08% of the stock is owned by 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.