Emeren Group Ltd (NYSE:SOL) Receives Average Rating of “Reduce” from Analysts

Emeren Group Ltd (NYSE:SOL) has been given an average rating of “Reduce” by the five brokerages that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $4.38.

A number of equities analysts have recently issued reports on the stock. StockNews.com upgraded shares of Emeren Group from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Emeren Group in a report on Friday, November 15th. Finally, BWS Financial reissued a “sell” rating and issued a $6.00 target price on shares of Emeren Group in a research note on Monday, December 16th.

Emeren Group Price Performance

Emeren Group stock opened at $1.84 on Tuesday. The business’s fifty day moving average is $1.96 and its two-hundred day moving average is $2.06. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.34 and a current ratio of 4.34. The firm has a market cap of $94.31 million, a P/E ratio of -14.15 and a beta of 1.63. Emeren Group has a 52 week low of $1.41 and a 52 week high of $3.00.

Hedge Funds Weigh In On Emeren Group

Several institutional investors have recently modified their holdings of SOL. XTX Topco Ltd bought a new position in shares of Emeren Group during the third quarter worth about $88,000. Shah Capital Management boosted its position in Emeren Group by 0.4% during the 4th quarter. Shah Capital Management now owns 18,818,236 shares of the semiconductor company’s stock worth $38,201,000 after acquiring an additional 69,374 shares during the last quarter. Long Run Wealth Advisors LLC bought a new position in shares of Emeren Group during the 3rd quarter worth approximately $28,000. Finally, Apollon Wealth Management LLC raised its holdings in shares of Emeren Group by 45.5% in 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 during the last quarter. Institutional investors own 44.08% of the company’s stock.

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.