Monaco Asset Management SAM Purchases 157,388 Shares of 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 grew its position in shares of Emeren Group Ltd. Sponsored ADR (NYSE:SOL - Free Report) by 8.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,005,152 shares of the semiconductor company's stock after purchasing an additional 157,388 shares during the period. Emeren Group makes up about 0.6% of Monaco Asset Management SAM's holdings, making the stock its 17th largest holding. Monaco Asset Management SAM owned about 3.91% of Emeren Group worth $3,148,000 at the end of the most recent reporting period.

Separately, Raymond James Financial Inc. purchased a new stake in Emeren Group in the 4th quarter worth approximately $80,000. Institutional investors and hedge funds own 44.08% of the company's stock.

Analyst Ratings Changes

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

Emeren Group Stock Performance

NYSE SOL traded down $0.03 during midday trading on Wednesday, hitting $1.89. The company had a trading volume of 253,062 shares, compared to its average volume of 228,298. The company has a quick ratio of 4.03, a current ratio of 4.03 and a debt-to-equity ratio of 0.11. The firm has a fifty day simple moving average of $1.83 and a two-hundred day simple moving average of $1.67. Emeren Group Ltd. Sponsored ADR has a fifty-two week low of $1.04 and a fifty-two week high of $3.00. The stock has a market cap of $96.74 million, a price-to-earnings ratio of -18.85 and a beta of 2.17.

Emeren Group Company 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.