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

Emeren Group Ltd (NYSE:SOL) has earned a consensus rating of “Reduce” from the five research firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating and two have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $4.38.

A number of brokerages have recently issued reports on SOL. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of Emeren Group in a report on Friday, November 15th. BWS Financial restated a “sell” rating and set a $6.00 target price on shares of Emeren Group in a research report on Monday, December 16th. Finally, StockNews.com upgraded shares of Emeren Group from a “sell” rating to a “hold” rating in a report on Thursday, November 21st.

Hedge Funds Weigh In On Emeren Group

Several large investors have recently modified their holdings of SOL. Long Run Wealth Advisors LLC bought a new stake in shares of Emeren Group in the 3rd quarter worth approximately $28,000. Mercer Global Advisors Inc. ADV increased its stake in shares of Emeren Group by 160.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 47,809 shares of the semiconductor company’s stock valued at $72,000 after acquiring an additional 29,484 shares during the period. Finally, XTX Topco Ltd bought a new stake in Emeren Group in the third quarter worth about $88,000. Institutional investors own 44.08% of the company’s stock.

Emeren Group Trading Down 2.6 %

Shares of SOL stock opened at $1.90 on Friday. The business’s fifty day moving average price is $1.99 and its 200 day moving average price is $2.03. The firm has a market capitalization of $97.38 million, a PE ratio of -14.62 and a beta of 1.63. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.34 and a quick ratio of 4.34. Emeren Group has a 1-year low of $1.41 and a 1-year high of $3.00.

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.