Monaco Asset Management SAM Boosts Holdings in Emeren Group Ltd. Sponsored ADR (NYSE:SOL)

Key Points

• Monaco Asset Management SAM increased its holdings in Emeren Group Ltd. by 8.5% during the first quarter, now owning approximately 3.91% of the company worth around $3.15 million.
• Invesco Ltd. also raised its stake in Emeren Group by 26.5% during the fourth quarter, acquiring a total of about 792,148 shares.
• Wall Street Zen upgraded Emeren Group from a "sell" to a "hold" rating, indicating a potential improvement in investor sentiment regarding the stock.

Monaco Asset Management SAM boosted its position in Emeren Group Ltd. Sponsored ADR (NYSE:SOL - Free Report) by 8.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,005,152 shares of the semiconductor company's stock after acquiring an additional 157,388 shares during the quarter. Emeren Group accounts for about 0.6% of Monaco Asset Management SAM's holdings, making the stock its 17th biggest holding. Monaco Asset Management SAM owned 3.91% of Emeren Group worth $3,148,000 at the end of the most recent reporting period.

Separately, Raymond James Financial Inc. acquired a new stake in Emeren Group during the fourth quarter worth approximately $80,000. Institutional investors and hedge funds own 44.08% of the company's stock.

Emeren Group Stock Performance

Shares of Emeren Group stock traded down $0.01 during trading on Friday, reaching $1.86. The company's stock had a trading volume of 294,913 shares, compared to its average volume of 212,816. The company has a 50-day moving average price of $1.84 and a two-hundred day moving average price of $1.67. The firm has a market cap of $95.46 million, a PE ratio of -18.60 and a beta of 2.12. Emeren Group Ltd. Sponsored ADR has a fifty-two week low of $1.04 and a fifty-two week high of $3.00. The company has a current ratio of 4.03, a quick ratio of 4.03 and a debt-to-equity ratio of 0.11.

Analysts Set New Price Targets

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

Emeren Group 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.