Roth Mkm Reaffirms Buy Rating for Emeren Group (NYSE:SOL)

Emeren Group (NYSE:SOL)‘s stock had its “buy” rating reiterated by equities researchers at Roth Mkm in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $3.00 price objective on the semiconductor company’s stock. Roth Mkm’s target price indicates a potential upside of 57.48% from the company’s current price.

A number of other research firms have also weighed in on SOL. Northland Capmk lowered shares of Emeren Group from a “hold” rating to a “strong sell” rating in a report on Friday, May 24th. Northland Securities cut shares of Emeren Group from a “market perform” rating to an “under perform” rating and set a $1.50 price objective on the stock. in a research note on Friday, May 24th. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Emeren Group in a report on Wednesday. Finally, StockNews.com raised Emeren Group to a “sell” rating in a report on Friday, May 24th. Three research analysts have rated the stock with a sell rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.88.

Emeren Group Price Performance

Shares of SOL traded up $0.06 during trading hours on Wednesday, reaching $1.91. The stock had a trading volume of 269,912 shares, compared to its average volume of 383,701. The company has a quick ratio of 3.97, a current ratio of 3.65 and a debt-to-equity ratio of 0.09. Emeren Group has a 12 month low of $1.41 and a 12 month high of $3.50. The company’s 50-day moving average is $1.62 and its two-hundred day moving average is $1.83.

Emeren Group (NYSE:SOL) last posted its 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 12.70% and a negative return on equity of 0.89%. The firm had revenue of $30.06 million during the quarter, compared to the consensus estimate of $21.10 million. During the same quarter in the prior year, the business posted $0.14 earnings per share. As a group, analysts forecast that Emeren Group will post 0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Emeren Group

Large investors have recently modified their holdings of the company. Shah Capital Management bought a new stake in shares of Emeren Group during the 4th quarter valued at about $50,885,000. Monaco Asset Management SAM lifted its stake in Emeren Group by 40.6% in the first quarter. Monaco Asset Management SAM now owns 1,170,000 shares of the semiconductor company’s stock valued at $2,258,000 after buying an additional 337,650 shares during the period. GSA Capital Partners LLP boosted its holdings in shares of Emeren Group by 9.7% during the 1st quarter. GSA Capital Partners LLP now owns 747,448 shares of the semiconductor company’s stock worth $1,443,000 after buying an additional 66,284 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its position 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 period. 44.08% of the stock is currently owned by institutional investors and hedge funds.

About Emeren Group

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.