Emeren Group Ltd (NYSE:SOL) Chairman Buys $22,496.70 in Stock

Emeren Group Ltd (NYSE:SOL) Chairman Shah Capital Management acquired 12,710 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were acquired at an average cost of $1.77 per share, with a total value of $22,496.70. Following the completion of the purchase, the chairman now owns 18,755,172 shares in the company, valued at approximately $33,196,654.44. This represents a 0.07 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Emeren Group Stock Down 2.1 %

Shares of NYSE:SOL opened at $1.86 on Wednesday. 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 firm has a market cap of $95.33 million, a price-to-earnings ratio of -14.31 and a beta of 1.64. The stock’s 50-day moving average price is $2.18 and its two-hundred day moving average price is $1.97. Emeren Group Ltd has a 12-month low of $1.41 and a 12-month high of $3.00.

Institutional Investors Weigh In On Emeren Group

Hedge funds have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV raised its stake in 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 worth $72,000 after purchasing an additional 29,484 shares during the period. Long Run Wealth Advisors LLC acquired a new stake in shares of Emeren Group during the 3rd quarter worth $28,000. Finally, XTX Topco Ltd purchased a new position in shares of Emeren Group in the 3rd quarter worth $88,000. 44.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SOL has been the subject of several recent research reports. StockNews.com raised Emeren Group from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. BWS Financial reissued a “sell” rating and issued a $6.00 target price on shares of Emeren Group in a research note on Monday. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Emeren Group in a research note on Friday, November 15th. Finally, Roth Mkm reissued a “buy” rating and issued a $3.00 price objective on shares of Emeren Group in a research report on Wednesday, August 21st. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $4.38.

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.