Emeren Group (NYSE:SOL) Stock Rating Upgraded by StockNews.com

Emeren Group (NYSE:SOLGet Free Report) was upgraded by StockNews.com to a “sell” rating in a research note issued to investors on Monday.

Separately, HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of Emeren Group in a research note on Monday. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Emeren Group currently has a consensus rating of “Moderate Buy” and an average price target of $5.80.

Check Out Our Latest Research Report on Emeren Group

Emeren Group Stock Performance

Emeren Group stock opened at $2.37 on Monday. The company has a quick ratio of 5.40, a current ratio of 5.40 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $142.72 million, a P/E ratio of -13.17 and a beta of 1.78. The stock’s 50 day moving average is $1.98 and its 200 day moving average is $2.40. Emeren Group has a twelve month low of $1.54 and a twelve month high of $4.54.

Hedge Funds Weigh In On Emeren Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SOL. Mirae Asset Global Investments Co. Ltd. bought a new position in Emeren Group in the 3rd quarter valued at approximately $36,000. Schonfeld Strategic Advisors LLC bought a new position in Emeren Group in the 2nd quarter valued at approximately $41,000. Janney Montgomery Scott LLC bought a new position in shares of Emeren Group during the 3rd quarter valued at $44,000. Alliancebernstein L.P. bought a new position in shares of Emeren Group during the 3rd quarter valued at $55,000. Finally, Aigen Investment Management LP lifted its holdings in shares of Emeren Group by 74.1% during the 3rd quarter. Aigen Investment Management LP now owns 19,737 shares of the semiconductor company’s stock valued at $61,000 after buying an additional 8,401 shares during the period. 44.08% of the stock is owned by institutional investors.

About Emeren Group

(Get 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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