Emeren Group Ltd (NYSE:SOL) Receives Average Recommendation of “Reduce” from Brokerages

Emeren Group Ltd (NYSE:SOL) has earned a consensus rating of “Reduce” from the five analysts that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $4.38.

Several analysts have recently issued reports on the stock. StockNews.com raised shares of Emeren Group from a “sell” rating to a “hold” rating in a research note on Thursday, November 21st. HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Emeren Group in a research report on Friday, November 15th. Finally, BWS Financial restated a “sell” rating and issued a $6.00 price objective on shares of Emeren Group in a report on Monday, December 16th.

Institutional Investors Weigh In On Emeren Group

A number of large investors have recently modified their holdings of SOL. Long Run Wealth Advisors LLC purchased a new position in Emeren Group in the 3rd quarter worth approximately $28,000. Apollon Wealth Management LLC lifted 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 purchasing an additional 9,100 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Emeren Group in the fourth quarter valued at $80,000. XTX Topco Ltd acquired a new stake in Emeren Group during the 3rd quarter valued at $88,000. Finally, Monaco Asset Management SAM increased its stake in Emeren Group by 35.7% during the 4th quarter. Monaco Asset Management SAM now owns 1,847,764 shares of the semiconductor company’s stock worth $3,751,000 after buying an additional 486,063 shares during the period. Institutional investors and hedge funds own 44.08% of the company’s stock.

Emeren Group Stock Up 2.0 %

Shares of NYSE:SOL opened at $1.78 on Tuesday. Emeren Group has a 12-month low of $1.41 and a 12-month high of $3.00. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.10. The stock’s 50-day moving average price is $1.94 and its two-hundred day moving average price is $2.06. The firm has a market cap of $90.99 million, a price-to-earnings ratio of -13.65 and a beta of 1.61.

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.