Emeren Group Ltd (NYSE:SOL) Given Consensus Rating of "Reduce" by Brokerages

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

A number of equities research analysts have commented on the company. HC Wainwright restated a "buy" rating and issued a $7.00 target price on shares of Emeren Group in a research report on Friday, March 14th. Roth Mkm reduced their target price on Emeren Group from $3.00 to $2.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Finally, StockNews.com downgraded Emeren Group from a "hold" rating to a "sell" rating in a research report on Friday, March 14th.

Hedge Funds Weigh In On Emeren Group

Several hedge funds have recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in Emeren Group during the 1st quarter worth about $47,000. Monaco Asset Management SAM lifted its stake in Emeren Group by 8.5% during the 1st quarter. Monaco Asset Management SAM now owns 2,005,152 shares of the semiconductor company's stock worth $3,148,000 after acquiring an additional 157,388 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Emeren Group during the 4th quarter worth about $80,000. Invesco Ltd. lifted its stake in Emeren Group by 26.5% during the 4th quarter. Invesco Ltd. now owns 792,148 shares of the semiconductor company's stock worth $1,608,000 after acquiring an additional 165,902 shares in the last quarter. Finally, Apollon Wealth Management LLC lifted its stake in Emeren Group by 45.5% during the 4th quarter. Apollon Wealth Management LLC now owns 29,100 shares of the semiconductor company's stock worth $59,000 after acquiring an additional 9,100 shares in the last quarter. Institutional investors and hedge funds own 44.08% of the company's stock.

Emeren Group Trading Up 3.6%

NYSE SOL traded up $0.06 on Thursday, reaching $1.59. 116,400 shares of the company were exchanged, compared to its average volume of 258,429. The business's fifty day moving average price is $1.45 and its 200 day moving average price is $1.73. The stock has a market capitalization of $81.24 million, a P/E ratio of -12.19 and a beta of 2.10. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.10. Emeren Group has a fifty-two week low of $1.04 and a fifty-two week high of $3.00.

Emeren Group (NYSE:SOL - Get Free Report) last released its quarterly earnings data 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%. The company had revenue of $34.60 million for the quarter, compared to analyst estimates of $40.13 million. During the same period last year, the firm posted ($0.15) EPS. Analysts forecast that Emeren Group will post 0.1 earnings per share for the current year.

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.