Emeren Group (NYSE:SOL) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Emeren Group (NYSE:SOL) in a report issued on Friday,Benzinga reports. The brokerage currently has a $7.00 target price on the semiconductor company’s stock.

SOL has been the subject of a number of other research reports. StockNews.com raised Emeren Group from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. 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. Four equities research analysts have rated the stock with a sell rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Emeren Group currently has an average rating of “Hold” and an average target price of $4.38.

Emeren Group Stock Performance

Shares of NYSE SOL opened at $1.19 on Friday. The company’s fifty day moving average price is $1.79 and its 200 day moving average price is $2.05. Emeren Group has a 1 year low of $1.04 and a 1 year high of $3.00. The company has a market capitalization of $60.74 million, a PE ratio of -9.12 and a beta of 1.70. 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 (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.31). Emeren Group had a negative net margin of 7.14% and a negative return on equity of 2.05%. The company had revenue of $34.60 million during the quarter, compared to analyst estimates of $40.13 million. During the same quarter last year, the business earned ($0.15) EPS. On average, research analysts predict that Emeren Group will post 0.1 earnings per share for the current year.

Institutional Trading of Emeren Group

Several large investors have recently made changes to their positions in the company. Apollon Wealth Management LLC increased its position in shares of Emeren Group by 45.5% during the fourth quarter. Apollon Wealth Management LLC now owns 29,100 shares of the semiconductor company’s stock worth $59,000 after purchasing an additional 9,100 shares in the last quarter. XTX Topco Ltd purchased a new stake in Emeren Group in the 3rd quarter valued at $88,000. Raymond James Financial Inc. purchased a new stake in Emeren Group in the 4th quarter valued at $80,000. Shah Capital Management grew its holdings in Emeren Group by 0.4% in the 4th quarter. Shah Capital Management now owns 18,818,236 shares of the semiconductor company’s stock valued at $38,201,000 after buying an additional 69,374 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Emeren Group by 26.5% in the 4th quarter. Invesco Ltd. now owns 792,148 shares of the semiconductor company’s stock valued at $1,608,000 after buying an additional 165,902 shares in the last quarter. 44.08% of the stock is currently owned by hedge funds and other institutional investors.

About Emeren Group

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.