Emeren Group's (SOL) "Buy" Rating Reiterated at HC Wainwright

Emeren Group (NYSE:SOL - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at HC Wainwright in a report released on Monday, Benzinga reports. They currently have a $7.00 price objective on the semiconductor company's stock. HC Wainwright's price objective suggests a potential upside of 197.24% from the stock's previous close.

Emeren Group Trading Up 22.0 %

SOL traded up $0.43 during trading on Monday, reaching $2.36. 2,550,391 shares of the stock traded hands, compared to its average volume of 556,218. 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 capitalization of $141.82 million, a PE ratio of -13.08 and a beta of 1.78. The stock's 50-day moving average is $1.97 and its 200 day moving average is $2.40. Emeren Group has a 12 month low of $1.54 and a 12 month high of $4.54.

Hedge Funds Weigh In On Emeren Group

Several institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP raised its holdings in shares of Emeren Group by 26.8% during the fourth quarter. GSA Capital Partners LLP now owns 681,164 shares of the semiconductor company's stock valued at $1,860,000 after purchasing an additional 143,948 shares during the period. GTS Securities LLC raised its holdings in shares of Emeren Group by 100.9% during the fourth 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 period. Legal & General Group Plc raised its holdings in shares of Emeren Group by 20.9% during the fourth 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 period. Janney Montgomery Scott LLC raised its holdings in shares of Emeren Group by 619.4% during the fourth 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 period. Finally, Monaco Asset Management SAM raised its holdings in shares of Emeren Group by 49.6% during the fourth 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 period. Institutional investors and hedge funds own 44.08% of the company's stock.

About Emeren Group

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.