Emeren Group Ltd (NYSE:SOL) Chairman Acquires $22,496.70 in Stock

Emeren Group Ltd (NYSE:SOL) Chairman Shah Capital Management bought 12,710 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were acquired at an average cost of $1.77 per share, with a total value of $22,496.70. Following the acquisition, the chairman now directly owns 18,755,172 shares of the company’s stock, valued at approximately $33,196,654.44. This represents a 0.07 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Emeren Group Stock Performance

NYSE:SOL opened at $1.78 on Thursday. The company’s 50-day moving average is $2.17 and its two-hundred day moving average is $1.97. Emeren Group Ltd has a 1-year low of $1.41 and a 1-year high of $3.00. 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 has a market capitalization of $91.23 million, a price-to-earnings ratio of -13.69 and a beta of 1.64.

Wall Street Analysts Forecast Growth

SOL has been the topic of a number of recent research reports. Roth Mkm restated a “buy” rating and set a $3.00 price target on shares of Emeren Group in a research report on Wednesday, August 21st. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of Emeren Group in a report on Friday, November 15th. BWS Financial reaffirmed a “sell” rating and issued a $6.00 price target on shares of Emeren Group in a report on Monday. Finally, StockNews.com raised Emeren Group from a “sell” rating to a “hold” rating in a research note on Thursday, November 21st. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Emeren Group has a consensus rating of “Hold” and an average target price of $4.38.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SOL. Long Run Wealth Advisors LLC acquired a new stake in Emeren Group during the third quarter worth $28,000. Mercer Global Advisors Inc. ADV grew its holdings in shares of Emeren Group by 160.9% during the 2nd 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. Finally, XTX Topco Ltd acquired a new stake in shares of Emeren Group during the 3rd quarter worth about $88,000. 44.08% of the stock is currently owned by institutional investors and hedge funds.

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.