Shares of Emeren Group Ltd. Sponsored ADR (NYSE:SOL - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.68 and traded as high as $1.90. Emeren Group shares last traded at $1.88, with a volume of 1,016,231 shares changing hands.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on SOL. HC Wainwright reissued a "buy" rating and issued a $7.00 price objective on shares of Emeren Group in a report on Friday, March 14th. Wall Street Zen downgraded shares of Emeren Group from a "hold" rating to a "sell" rating in a report on Friday, March 14th. Finally, Roth Mkm decreased their price objective on Emeren Group from $3.00 to $2.00 and set a "buy" rating on the stock in a report on Monday, March 17th.
Read Our Latest Report on Emeren Group
Emeren Group Stock Performance
The firm's fifty day moving average is $1.60 and its 200-day moving average is $1.68. The company has a current ratio of 4.03, a quick ratio of 4.03 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $96.23 million, a PE ratio of -18.75 and a beta of 2.19.
Institutional Investors Weigh In On Emeren Group
A number of institutional investors and hedge funds have recently made changes to their positions in SOL. Virtu Financial LLC acquired a new stake in Emeren Group in the 1st quarter valued at approximately $47,000. Raymond James Financial Inc. purchased a new position in shares of Emeren Group during the fourth quarter worth $80,000. Invesco Ltd. grew its stake in shares of Emeren Group by 26.5% in the fourth 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. Finally, Monaco Asset Management SAM raised its holdings in shares of Emeren Group by 8.5% in the 1st quarter. Monaco Asset Management SAM now owns 2,005,152 shares of the semiconductor company's stock valued at $3,148,000 after buying an additional 157,388 shares during the period. 44.08% of the stock is owned by hedge funds and other institutional investors.
About Emeren Group
(
Get Free Report)
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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