Emeren Group (SOL) Stock Forecast, Price & News

3 Wall Street research 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 research analysts is that investors should "buy" SOL shares.
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3 Wall Street research analysts have issued 1 year target prices for Emeren Group's shares. Their SOL share price forecasts range from $9.00 to $9.50. On average, they predict the company's stock price to reach $9.25 in the next twelve months. This suggests a possible upside of 140.9% from the stock's current price.
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Emeren Group's stock was trading at $4.52 at the start of the year. Since then, SOL shares have decreased by 15.0% and is now trading at $3.84.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, September 6th 2023.
View our SOL earnings forecast.

Emeren Group Ltd (NYSE:SOL) posted its quarterly earnings results on Wednesday, May, 31st. The semiconductor company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. The semiconductor company had revenue of $12.88 million for the quarter, compared to the consensus estimate of $30.72 million. Emeren Group had a net margin of 8.15% and a trailing twelve-month return on equity of 1.28%. During the same quarter last year, the business earned ($0.03) earnings per share.

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).

Shares of Emeren Group 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 market closes 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 has approved a share repurchase plan on Monday, December 6th 2021, which authorizes the company to buyback $50,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization authorizes the company to buy up to 12.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its shares are undervalued.

Emeren Group issued an update on its FY 2023 earnings guidance on Wednesday, March, 29th. The company provided EPS guidance of for the period. The company issued revenue guidance of $140.00 million-$160.00 million, compared to the consensus revenue estimate of $145.92 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 number of institutional and retail investors. Top institutional shareholders 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 $3.84.

Emeren Group (NYSE:SOL) has a market capitalization of $231.24 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 $0.09 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.