HC Wainwright Reiterates “Buy” Rating for Emeren Group (NYSE:SOL)

HC Wainwright reissued their buy rating on shares of Emeren Group (NYSE:SOL) in a research note issued to investors on Friday,Benzinga reports. HC Wainwright currently has a $7.00 price objective on the semiconductor company’s stock. HC Wainwright also issued estimates for Emeren Group’s FY2025 earnings at $0.56 EPS.

A number of other brokerages also recently weighed in on SOL. Roth Mkm reaffirmed a “buy” rating and issued a $3.00 target price on shares of Emeren Group in a research note on Wednesday, August 21st. StockNews.com downgraded shares of Emeren Group from a “hold” rating to a “sell” rating in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $3.83.

Emeren Group Stock Performance

NYSE SOL opened at $1.91 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.27 and a quick ratio of 4.27. The firm has a market capitalization of $97.91 million, a price-to-earnings ratio of -14.69 and a beta of 1.73. The company’s fifty day moving average is $2.42 and its two-hundred day moving average is $1.98. Emeren Group has a 52-week low of $1.41 and a 52-week high of $3.00.

Emeren Group (NYSE:SOL) last issued its earnings results on Tuesday, August 20th. The semiconductor company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). Emeren Group had a negative net margin of 7.14% and a negative return on equity of 2.05%. The business had revenue of $30.06 million for the quarter, compared to analyst estimates of $21.10 million. During the same quarter last year, the firm posted $0.14 earnings per share. Equities research analysts forecast that Emeren Group will post 0.33 EPS for the current year.

Insider Transactions at Emeren Group

In other news, Chairman Shah Capital Management purchased 26,843 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $1.83 per share, for a total transaction of $49,122.69. Following the completion of the purchase, the chairman now directly owns 18,655,151 shares in the company, valued at $34,138,926.33. The trade was a 0.14 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 37.31% of the stock is currently owned by insiders.

Institutional Trading of Emeren Group

A number of hedge funds have recently modified their holdings of the stock. Long Run Wealth Advisors LLC acquired a new stake in shares of Emeren Group during the 3rd quarter worth about $28,000. Mercer Global Advisors Inc. ADV lifted its stake in shares of 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. Finally, XTX Topco Ltd bought a new position in Emeren Group during the third quarter worth about $88,000. Institutional investors and hedge funds own 44.08% of the company’s stock.

Emeren Group Company Profile

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.