Emeren Group Ltd (NYSE:SOL) Short Interest Update

Emeren Group Ltd (NYSE:SOL - Get Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 1,290,000 shares, an increase of 19.4% from the March 15th total of 1,080,000 shares. Currently, 4.0% of the shares of the company are sold short. Based on an average daily volume of 343,500 shares, the short-interest ratio is presently 3.8 days.

Emeren Group Stock Performance

SOL traded up $0.06 on Friday, reaching $1.37. The stock had a trading volume of 101,999 shares, compared to its average volume of 264,496. The business's 50-day moving average price is $1.48 and its two-hundred day moving average price is $1.86. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.10. Emeren Group has a 12-month low of $1.04 and a 12-month high of $3.00. The company has a market cap of $70.22 million, a P/E ratio of -10.54 and a beta of 1.75.

Emeren Group (NYSE:SOL - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The semiconductor company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.31). The business had revenue of $34.60 million during the quarter, compared to analyst estimates of $40.13 million. Emeren Group had a negative return on equity of 2.05% and a negative net margin of 7.14%. During the same period in the previous year, the company posted ($0.15) EPS. Sell-side analysts forecast that Emeren Group will post 0.1 earnings per share for the current year.

Hedge Funds Weigh In On Emeren Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Shah Capital Management raised its position in shares of Emeren Group by 0.4% during the 4th quarter. Shah Capital Management now owns 18,818,236 shares of the semiconductor company's stock worth $38,201,000 after purchasing an additional 69,374 shares during the last quarter. Monaco Asset Management SAM increased its stake in Emeren Group by 35.7% during the 4th quarter. Monaco Asset Management SAM now owns 1,847,764 shares of the semiconductor company's stock worth $3,751,000 after buying an additional 486,063 shares in the last quarter. Invesco Ltd. lifted its position in shares of Emeren Group by 26.5% in the fourth quarter. Invesco Ltd. now owns 792,148 shares of the semiconductor company's stock valued at $1,608,000 after acquiring an additional 165,902 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Emeren Group during the fourth quarter worth approximately $80,000. Finally, XTX Topco Ltd acquired a new position in Emeren Group in the 3rd quarter valued at $88,000. 44.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on SOL shares. HC Wainwright reaffirmed a "buy" rating and issued a $7.00 price target on shares of Emeren Group in a report on Friday, March 14th. StockNews.com downgraded Emeren Group from a "hold" rating to a "sell" rating in a research note on Friday, March 14th. Finally, Roth Mkm reduced their price target on Emeren Group from $3.00 to $2.00 and set a "buy" rating for the company in a research report on Monday, March 17th. Four research analysts have rated the stock with a sell rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $4.13.

About Emeren Group

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.