Monaco Asset Management SAM Raises Stock Holdings in Emeren Group Ltd (NYSE:SOL)

Monaco Asset Management SAM boosted its holdings in Emeren Group Ltd (NYSE:SOL) by 35.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,847,764 shares of the semiconductor company’s stock after purchasing an additional 486,063 shares during the period. Emeren Group comprises 0.5% of Monaco Asset Management SAM’s holdings, making the stock its 20th largest position. Monaco Asset Management SAM owned approximately 3.60% of Emeren Group worth $3,751,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Raymond James Financial Inc. bought a new stake in shares of Emeren Group in the fourth quarter valued at $80,000. Apollon Wealth Management LLC raised its stake in Emeren Group by 45.5% in the 4th quarter. Apollon Wealth Management LLC now owns 29,100 shares of the semiconductor company’s stock valued at $59,000 after acquiring an additional 9,100 shares during the period. Shah Capital Management lifted its holdings 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 valued at $38,201,000 after purchasing an additional 69,374 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in Emeren Group during the third quarter worth about $88,000. Institutional investors own 44.08% of the company’s stock.

Emeren Group Trading Up 5.0 %

Shares of SOL stock opened at $1.46 on Friday. The company has a market capitalization of $74.83 million, a PE ratio of -11.23 and a beta of 1.70. Emeren Group Ltd has a 52-week low of $1.30 and a 52-week high of $3.00. The business’s fifty day moving average is $1.80 and its 200 day moving average is $2.05. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.34 and a current ratio of 4.34.

Emeren Group (NYSE:SOL) last announced its earnings results on Thursday, March 13th. The semiconductor company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.31). Emeren Group had a negative return on equity of 2.05% and a negative net margin of 7.14%. During the same period in the prior year, the business earned ($0.15) earnings per share. On average, equities research analysts anticipate that Emeren Group Ltd will post 0.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SOL. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of Emeren Group in a research note on Friday, November 15th. StockNews.com upgraded Emeren Group from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. Finally, BWS Financial reiterated a “sell” rating and set a $6.00 price target on shares of Emeren Group in a research report on Monday, December 16th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $4.38.

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.