Emeren Group Ltd. Sponsored ADR (NYSE:SOL - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.68 and traded as high as $1.89. Emeren Group shares last traded at $1.89, with a volume of 136,990 shares trading hands.
Wall Street Analyst Weigh In
Separately, Wall Street Zen downgraded shares of Emeren Group from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $5.00.
Get Our Latest Stock Analysis on Emeren Group
Emeren Group Stock Down 0.3%
The firm has a 50-day moving average of $1.88 and a two-hundred day moving average of $1.68. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $97.25 million, a PE ratio of -23.69 and a beta of 2.01.
Emeren Group (NYSE:SOL - Get Free Report) last announced its quarterly earnings results on Tuesday, August 19th. The semiconductor company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.04. The business had revenue of $12.88 million for the quarter, compared to analyst estimates of $18.57 million. Emeren Group had a negative return on equity of 1.16% and a negative net margin of 5.77%. Equities research analysts predict that Emeren Group Ltd. Sponsored ADR will post 0.1 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Emeren Group
A number of institutional investors have recently made changes to their positions in SOL. Monaco Asset Management SAM lifted 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 worth $3,148,000 after acquiring an additional 157,388 shares during the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new stake in Emeren Group in the second quarter valued at approximately $388,000. Jane Street Group LLC acquired a new position in Emeren Group during the second quarter worth $179,000. Virtu Financial LLC purchased a new position in shares of Emeren Group during the first quarter worth $47,000. Finally, XTX Topco Ltd purchased a new position in shares of Emeren Group during the second quarter worth $44,000. 44.08% of the stock is currently owned by institutional investors and hedge funds.
Emeren Group Company Profile
(
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.
See Also
Before you consider Emeren Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Emeren Group wasn't on the list.
While Emeren Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
