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Emeren Group (NYSE:SOL) Stock Passes Above 200 Day Moving Average - Here's What Happened

Emeren Group logo with Energy background

Shares of Emeren Group Ltd. Sponsored ADR (NYSE:SOL - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.67 and traded as high as $1.92. Emeren Group shares last traded at $1.92, with a volume of 181,957 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Emeren Group from a "sell" rating to a "hold" rating in a report on Saturday, July 5th.

Get Our Latest Stock Analysis on Emeren Group

Emeren Group Trading Down 1.3%

The company has a debt-to-equity ratio of 0.11, a current ratio of 4.03 and a quick ratio of 4.03. The business's 50-day moving average is $1.83 and its two-hundred day moving average is $1.67. The firm has a market cap of $96.74 million, a P/E ratio of -18.85 and a beta of 2.17.

Institutional Investors Weigh In On Emeren Group

Institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. grew its position in Emeren Group by 26.5% during the fourth quarter. Invesco Ltd. now owns 792,148 shares of the semiconductor company's stock valued at $1,608,000 after acquiring an additional 165,902 shares during the last quarter. Monaco Asset Management SAM increased its holdings in 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 buying an additional 157,388 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Emeren Group in the 4th quarter worth about $80,000. Finally, Virtu Financial LLC bought a new stake in shares of Emeren Group during the 1st quarter valued at about $47,000. 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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