Emeren Group Ltd (NYSE:SOL) is Shah Capital Management’s 5th Largest Position

Shah Capital Management decreased its position in shares of Emeren Group Ltd (NYSE:SOLFree Report) by 0.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,628,308 shares of the semiconductor company’s stock after selling 6,983 shares during the quarter. Emeren Group makes up about 6.0% of Shah Capital Management’s holdings, making the stock its 5th largest position. Shah Capital Management owned 30.93% of Emeren Group worth $27,942,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Mercer Global Advisors Inc. ADV grew its stake in Emeren Group by 160.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 47,809 shares of the semiconductor company’s stock worth $72,000 after buying an additional 29,484 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in shares of Emeren Group by 9.7% in the first quarter. GSA Capital Partners LLP now owns 747,448 shares of the semiconductor company’s stock valued at $1,443,000 after acquiring an additional 66,284 shares during the period. Finally, Monaco Asset Management SAM grew its position in shares of Emeren Group by 40.6% during the first quarter. Monaco Asset Management SAM now owns 1,170,000 shares of the semiconductor company’s stock worth $2,258,000 after acquiring an additional 337,650 shares during the last quarter. Institutional investors and hedge funds own 44.08% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Shah Capital Management purchased 26,843 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average price of $1.83 per share, for a total transaction of $49,122.69. Following the acquisition, the chairman now directly owns 18,655,151 shares of the company’s stock, valued at approximately $34,138,926.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 18.02% of the company’s stock.

Analyst Upgrades and Downgrades

SOL has been the subject of several research reports. StockNews.com upgraded shares of Emeren Group to a “sell” rating in a research report on Friday, May 24th. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of Emeren Group in a report on Wednesday, August 21st. Roth Mkm reissued a “buy” rating and set a $3.00 price target on shares of Emeren Group in a report on Wednesday, August 21st. Northland Securities cut Emeren Group from a “market perform” rating to an “under perform” rating and set a $1.50 price target on the stock. in a research report on Friday, May 24th. Finally, Northland Capmk cut Emeren Group from a “hold” rating to a “strong sell” rating in a research report on Friday, May 24th. Three research analysts have rated the stock with a sell rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $4.88.

Get Our Latest Analysis on Emeren Group

Emeren Group Trading Up 6.2 %

NYSE SOL opened at $2.38 on Wednesday. The company has a quick ratio of 4.27, a current ratio of 4.27 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $122.00 million, a P/E ratio of -9.15 and a beta of 1.71. Emeren Group Ltd has a 52-week low of $1.41 and a 52-week high of $3.27. The firm has a 50-day moving average price of $1.79 and a 200 day moving average price of $1.83.

Emeren Group (NYSE:SOLGet Free Report) last posted its quarterly earnings results on Tuesday, August 20th. The semiconductor company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). Emeren Group had a negative net margin of 20.91% and a negative return on equity of 3.15%. The business had revenue of $30.06 million during the quarter, compared to analyst estimates of $21.10 million. During the same period in the prior year, the business earned $0.14 earnings per share. Equities research analysts expect that Emeren Group Ltd will post 0.27 EPS for the current year.

About Emeren Group

(Free Report)

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.

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Institutional Ownership by Quarter for Emeren Group (NYSE:SOL)

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