FY2024 Earnings Forecast for Emeren Group Ltd (NYSE:SOL) Issued By Roth Capital

Emeren Group Ltd (NYSE:SOL - Free Report) - Equities research analysts at Roth Capital upped their FY2024 earnings per share (EPS) estimates for Emeren Group in a report released on Sunday, March 31st. Roth Capital analyst P. Shen now forecasts that the semiconductor company will post earnings of $0.50 per share for the year, up from their prior forecast of $0.35. The consensus estimate for Emeren Group's current full-year earnings is $0.40 per share. Roth Capital also issued estimates for Emeren Group's Q4 2024 earnings at $0.24 EPS, Q1 2025 earnings at $0.15 EPS, Q2 2025 earnings at $0.19 EPS and FY2025 earnings at $0.75 EPS.

Several other equities analysts also recently commented on SOL. HC Wainwright reaffirmed a "buy" rating and issued a $7.00 target price on shares of Emeren Group in a research report on Monday. StockNews.com raised Emeren Group to a "sell" rating in a research report on Monday. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Emeren Group currently has an average rating of "Moderate Buy" and an average price target of $5.80.

Emeren Group Stock Performance

Shares of Emeren Group stock traded down $0.41 on Wednesday, hitting $1.95. The stock had a trading volume of 1,729,969 shares, compared to its average volume of 581,745. Emeren Group has a twelve month low of $1.54 and a twelve month high of $4.46. The business's 50 day moving average is $1.98 and its two-hundred day moving average is $2.39. The company has a quick ratio of 5.40, a current ratio of 5.40 and a debt-to-equity ratio of 0.06. The stock has a market cap of $117.44 million, a price-to-earnings ratio of -10.83 and a beta of 1.78.

Institutional Investors Weigh In On Emeren Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in SOL. Mirae Asset Global Investments Co. Ltd. bought a new stake in Emeren Group during the third quarter worth $36,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Emeren Group during the 2nd quarter valued at $41,000. Janney Montgomery Scott LLC acquired a new stake in shares of Emeren Group during the 3rd quarter valued at $44,000. Alliancebernstein L.P. acquired a new stake in shares of Emeren Group during the 3rd quarter valued at $55,000. Finally, Aigen Investment Management LP boosted its holdings in shares of Emeren Group by 74.1% during the 3rd quarter. Aigen Investment Management LP now owns 19,737 shares of the semiconductor company's stock valued at $61,000 after acquiring an additional 8,401 shares in the last quarter. 44.08% of the stock is currently owned by institutional investors.

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.