Emeren Group’s (SOL) Buy Rating Reaffirmed at HC Wainwright

Emeren Group (NYSE:SOL)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research report issued on Friday,Benzinga reports. They presently have a $7.00 price target on the semiconductor company’s stock. HC Wainwright’s target price would indicate a potential upside of 379.45% from the company’s current price.

Several other research firms have also issued reports on SOL. BWS Financial reissued a “sell” rating and issued a $6.00 price objective on shares of Emeren Group in a research report on Monday, December 16th. StockNews.com raised shares of Emeren Group from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. Three research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Emeren Group presently has a consensus rating of “Hold” and an average price target of $4.38.

Emeren Group Stock Performance

NYSE SOL opened at $1.46 on Friday. The business’s 50-day moving average price is $1.80 and its 200 day moving average price is $2.05. 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 twelve month low of $1.30 and a twelve month high of $3.00. The company has a market capitalization of $74.83 million, a PE ratio of -11.23 and a beta of 1.70.

Emeren Group (NYSE:SOL) last issued its earnings results on Thursday, March 13th. The semiconductor company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.31). 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 business earned ($0.15) earnings per share. On average, research analysts predict that Emeren Group will post 0.1 earnings per share for the current year.

Hedge Funds Weigh In On Emeren Group

Institutional investors have recently added to or reduced their stakes in the company. Apollon Wealth Management LLC increased its position in shares of Emeren Group by 45.5% during the fourth quarter. Apollon Wealth Management LLC now owns 29,100 shares of the semiconductor company’s stock worth $59,000 after acquiring an additional 9,100 shares during the last quarter. XTX Topco Ltd acquired a new stake in Emeren Group during the 3rd quarter valued at approximately $88,000. Raymond James Financial Inc. purchased a new stake in Emeren Group during the 4th quarter worth approximately $80,000. Shah Capital Management raised its position in shares of Emeren Group by 0.4% in the 4th quarter. Shah Capital Management now owns 18,818,236 shares of the semiconductor company’s stock valued at $38,201,000 after purchasing an additional 69,374 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Emeren Group by 26.5% during the 4th quarter. Invesco Ltd. now owns 792,148 shares of the semiconductor company’s stock valued at $1,608,000 after buying an additional 165,902 shares during the last quarter. Institutional investors and hedge funds own 44.08% of the company’s stock.

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.