Emeren Group Ltd (NYSE:SOL) Given Average Recommendation of "Reduce" by Brokerages

Emeren Group Ltd (NYSE:SOL - Get Free Report) has been assigned a consensus recommendation of "Reduce" from the five brokerages that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $4.13.

SOL has been the subject of several research analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $7.00 target price on shares of Emeren Group in a research report on Friday, March 14th. StockNews.com lowered shares of Emeren Group from a "hold" rating to a "sell" rating in a research note on Friday, March 14th. Finally, Roth Mkm cut their target price on shares of Emeren Group from $3.00 to $2.00 and set a "buy" rating for the company in a research report on Monday, March 17th.

Emeren Group Price Performance

Shares of NYSE:SOL opened at $1.58 on Thursday. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $80.85 million, a PE ratio of -12.13 and a beta of 2.10. Emeren Group has a twelve month low of $1.04 and a twelve month high of $3.00. The company has a 50-day moving average price of $1.44 and a two-hundred day moving average price of $1.76.

Emeren Group (NYSE:SOL - Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The semiconductor company reported ($0.23) earnings per share (EPS) 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%. The firm had revenue of $34.60 million during the quarter, compared to analysts' expectations of $40.13 million. During the same period in the previous year, the company posted ($0.15) earnings per share. Equities analysts forecast that Emeren Group will post 0.1 EPS for the current year.

Hedge Funds Weigh In On Emeren Group

Several institutional investors have recently made changes to their positions in SOL. Apollon Wealth Management LLC boosted its position in shares of Emeren Group by 45.5% during 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 last quarter. Virtu Financial LLC acquired a new position in Emeren Group in the first quarter valued at approximately $47,000. Raymond James Financial Inc. acquired a new position in Emeren Group in the fourth quarter valued at approximately $80,000. Shah Capital Management boosted its holdings in Emeren Group by 0.4% in 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 in the last quarter. Finally, Monaco Asset Management SAM boosted its holdings in shares of Emeren Group by 8.5% in the first quarter. Monaco Asset Management SAM now owns 2,005,152 shares of the semiconductor company's stock valued at $3,148,000 after acquiring an additional 157,388 shares during the period. 44.08% of the stock is owned by hedge funds and other 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.

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