Emeren Group (SOL) Stock Forecast, Price & News

3 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Emeren Group in the last twelve months. There are currently 2 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "buy" SOL shares.
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3 brokers have issued 12-month price targets for Emeren Group's shares. Their SOL share price forecasts range from $9.00 to $9.50. On average, they anticipate the company's stock price to reach $9.25 in the next twelve months. This suggests a possible upside of 156.9% from the stock's current price.
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Emeren Group's stock was trading at $4.52 on January 1st, 2023. Since then, SOL shares have decreased by 20.4% and is now trading at $3.60.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, September 6th 2023.
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Emeren Group Ltd (NYSE:SOL) announced its quarterly earnings results on Tuesday, March, 28th. The semiconductor company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.08 by $0.03. The semiconductor company earned $40.80 million during the quarter, compared to analysts' expectations of $46.59 million. Emeren Group had a net margin of 8.15% and a trailing twelve-month return on equity of 1.29%.

ETFs with the largest weight of Emeren Group (NYSE:SOL) stock in their portfolio include ProShares S&P Kensho Cleantech ETF (CTEX), Invesco WilderHill Clean Energy ETF (PBW), SPDR S&P Kensho Clean Power ETF (CNRG), Invesco Solar ETF (TAN), Invesco Raymond James SB-1 Equity ETF (RYJ), SPDR S&P Kensho New Economies Composite ETF (KOMP), Global X Solar ETF (RAYS) and KraneShares MSCI China Clean Technology Index ETF (KGRN).

Emeren Group shares reverse split before market open on Friday, February 10th 2017. The 1-5 reverse split was announced on Monday, January 30th 2017. The number of shares owned by shareholders was adjusted after the closing bell on Thursday, February 9th 2017. An investor that had 100 shares of stock prior to the reverse split would have 20 shares after the split.

Emeren Group announced that its Board of Directors has initiated a share buyback program on Monday, December 6th 2021, which permits the company to buyback $50,000,000.00 in shares, according to EventVestor. This buyback authorization permits the company to purchase up to 12.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Emeren Group updated its second quarter 2023 earnings guidance on Sunday, June, 4th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $38.00 million-$40.00 million, compared to the consensus revenue estimate of $42.35 million.

34 employees have rated Emeren Group Chief Executive Officer Xian Shou Li on Glassdoor.com. Xian Shou Li has an approval rating of 28% among the company's employees. This puts Xian Shou Li in the bottom 10% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Emeren Group investors own include Co-Diagnostics (CODX), Inovio Pharmaceuticals (INO), Nokia Oyj (NOK), FuelCell Energy (FCEL), Advanced Micro Devices (AMD), SunPower (SPWR), VBI Vaccines (VBIV), First Solar (FSLR), Onconova Therapeutics (ONTX) and OPKO Health (OPK).

Emeren Group trades on the New York Stock Exchange (NYSE) under the ticker symbol "SOL."

Emeren Group's stock is owned by a variety of retail and institutional investors. Top institutional investors include State Street Corp (4.33%), BlackRock Inc. (0.69%), Mitsubishi UFJ Kokusai Asset Management Co. Ltd. (0.25%), Bank of America Corp DE (0.22%), Renaissance Technologies LLC (0.20%) and Harel Insurance Investments & Financial Services Ltd. (0.19%).
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Shares of SOL stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of SOL stock can currently be purchased for approximately $3.60.

Emeren Group (NYSE:SOL) has a market capitalization of $216.79 million and generates $81.41 million in revenue each year. The semiconductor company earns $-4,670,000.00 in net income (profit) each year or $0.12 on an earnings per share basis.

The company employs 147 workers across the globe.

Emeren Group's mailing address is 3RD FLOOR 850 CANAL ST, STAMFORD CT, 06902. The official website for the company is www.renesolapower.com. The semiconductor company can be reached via phone at (347) 577-9055, via email at ir@renesolapower.com, or via fax at 347-577-9985.