Q3 2024 EPS Estimates for Emeren Group Ltd (NYSE:SOL) Raised by Analyst

Emeren Group Ltd (NYSE:SOL - Free Report) - Analysts at HC Wainwright boosted their Q3 2024 earnings per share estimates for Emeren Group in a research report issued on Monday, April 1st. HC Wainwright analyst A. Dayal now expects that the semiconductor company will post earnings of $0.15 per share for the quarter, up from their previous forecast of $0.09. HC Wainwright currently has a "Buy" rating and a $7.00 target price on the stock. The consensus estimate for Emeren Group's current full-year earnings is $0.36 per share. HC Wainwright also issued estimates for Emeren Group's Q4 2024 earnings at $0.20 EPS.

Separately, StockNews.com raised Emeren Group to a "sell" rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Emeren Group presently has an average rating of "Moderate Buy" and an average price target of $5.80.

Emeren Group Trading Up 1.3 %

NYSE SOL traded up $0.03 during trading hours on Tuesday, hitting $2.37. 963,109 shares of the company were exchanged, compared to its average volume of 562,520. The stock has a 50-day moving average price of $1.97 and a 200 day moving average price of $2.40. The company has a quick ratio of 5.40, a current ratio of 5.40 and a debt-to-equity ratio of 0.06. Emeren Group has a 52 week low of $1.54 and a 52 week high of $4.54. The stock has a market cap of $142.72 million, a PE ratio of -13.08 and a beta of 1.78.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SOL. Shah Capital Management bought a new position in shares of Emeren Group during the fourth quarter valued at approximately $50,885,000. Millennium Management LLC boosted its holdings in shares of Emeren Group by 1,977.8% in the fourth quarter. Millennium Management LLC now owns 2,168,324 shares of the semiconductor company's stock valued at $9,801,000 after purchasing an additional 2,063,968 shares during the period. State Street Corp boosted its holdings in shares of Emeren Group by 26.8% in the second quarter. State Street Corp now owns 3,620,045 shares of the semiconductor company's stock valued at $17,195,000 after purchasing an additional 765,933 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Emeren Group by 377.7% in the second quarter. Renaissance Technologies LLC now owns 572,800 shares of the semiconductor company's stock valued at $2,171,000 after purchasing an additional 452,902 shares during the period. Finally, Man Group plc purchased a new stake in shares of Emeren Group in the fourth quarter valued at approximately $1,361,000. Institutional investors own 44.08% of the company's stock.

Emeren Group Company Profile

Emeren Group Ltd, through its subsidiaries, develops, builds, operates, and sells solar power projects. It owns and operates 3 gigawatt pipeline of projects and independent power producer assets. The company also develops community solar gardens; and sells project rights. In addition, it engages in engineering design; procurement of solar modules; balance-of-system components and other components; and construction contracting and management services.