Emeren Group (NYSE:SOL) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Emeren Group (NYSE:SOL - Free Report) from a sell rating to a hold rating in a research note published on Saturday.

Other equities research analysts have also recently issued reports about the stock. HC Wainwright reissued a "buy" rating and issued a $7.00 price objective on shares of Emeren Group in a research report on Friday, March 14th. Roth Mkm lowered their price target on Emeren Group from $3.00 to $2.00 and set a "buy" rating for the company in a report on Monday, March 17th.

Emeren Group Price Performance

Shares of SOL remained flat at $1.91 during mid-day trading on Friday. The stock had a trading volume of 1,017,245 shares, compared to its average volume of 266,811. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.03 and a current ratio of 4.03. The firm's 50 day moving average is $1.69 and its 200-day moving average is $1.69. Emeren Group has a 1 year low of $1.04 and a 1 year high of $3.00. The stock has a market capitalization of $98.02 million, a PE ratio of -19.10 and a beta of 2.17.

Institutional Trading of Emeren Group

A number of hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new position in Emeren Group during the 1st quarter valued at about $47,000. Raymond James Financial Inc. bought a new position in shares of Emeren Group during the fourth quarter valued at approximately $80,000. Invesco Ltd. boosted its stake in shares of 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 purchasing an additional 165,902 shares in the last quarter. Finally, Monaco Asset Management SAM increased its holdings in Emeren Group by 8.5% during 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 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

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.