Q1 2024 Earnings Estimate for Emeren Group Ltd Issued By Northland Capmk (NYSE:SOL)

Emeren Group Ltd (NYSE:SOL - Free Report) - Equities researchers at Northland Capmk decreased their Q1 2024 earnings per share (EPS) estimates for shares of Emeren Group in a report released on Wednesday, April 3rd. Northland Capmk analyst D. Schafer now expects that the semiconductor company will earn ($0.01) per share for the quarter, down from their prior estimate of $0.01. The consensus estimate for Emeren Group's current full-year earnings is $0.43 per share.

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

Emeren Group Stock Down 3.5 %

NYSE SOL traded down $0.07 during trading hours on Friday, reaching $2.08. 465,051 shares of the company's stock were exchanged, compared to its average volume of 589,666. The company's 50-day moving average is $1.98 and its two-hundred day moving average is $2.38. Emeren Group has a one year low of $1.54 and a one year high of $4.46. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.40 and a current ratio of 5.40. The company has a market capitalization of $124.96 million, a price-to-earnings ratio of -11.53 and a beta of 1.78.

Hedge Funds Weigh In On Emeren Group

Several hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP boosted its holdings in shares of Emeren Group by 26.8% in the 4th quarter. GSA Capital Partners LLP now owns 681,164 shares of the semiconductor company's stock valued at $1,860,000 after buying an additional 143,948 shares during the last quarter. GTS Securities LLC lifted its holdings in Emeren Group by 100.9% during the 4th quarter. GTS Securities LLC now owns 29,874 shares of the semiconductor company's stock valued at $82,000 after purchasing an additional 15,004 shares during the last quarter. Legal & General Group Plc lifted its holdings in Emeren Group by 20.9% during the 4th quarter. Legal & General Group Plc now owns 1,561,346 shares of the semiconductor company's stock valued at $4,262,000 after purchasing an additional 269,572 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in Emeren Group by 619.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 103,503 shares of the semiconductor company's stock valued at $283,000 after purchasing an additional 89,116 shares during the last quarter. Finally, Monaco Asset Management SAM lifted its holdings in Emeren Group by 49.6% during the 4th quarter. Monaco Asset Management SAM now owns 832,350 shares of the semiconductor company's stock valued at $2,272,000 after purchasing an additional 276,023 shares during the last quarter. 44.08% of the stock is 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.