Emeren Group Ltd (NYSE:SOL) Given Consensus Recommendation of “Reduce” by Brokerages

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

A number of research firms have recently weighed in on SOL. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Emeren Group in a research note on Friday, November 15th. BWS Financial restated a “sell” rating and issued a $6.00 price objective 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 research report on Thursday, November 21st.

Emeren Group Stock Performance

SOL stock opened at $1.58 on Friday. The business’s fifty day moving average is $1.89 and its 200-day moving average is $2.06. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.10. The company has a market cap of $80.98 million, a P/E ratio of -12.15 and a beta of 1.61. Emeren Group has a twelve month low of $1.41 and a twelve month high of $3.00.

Hedge Funds Weigh In On Emeren Group

Large investors have recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new position in Emeren Group during the 3rd quarter worth about $88,000. Apollon Wealth Management LLC increased its holdings in Emeren Group by 45.5% during the 4th 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. Shah Capital Management increased its holdings in Emeren Group by 0.4% during the 4th quarter. Shah Capital Management now owns 18,818,236 shares of the semiconductor company’s stock worth $38,201,000 after purchasing an additional 69,374 shares in the last quarter. Long Run Wealth Advisors LLC bought a new position in Emeren Group during the 3rd quarter worth about $28,000. Finally, Raymond James Financial Inc. bought a new position in Emeren Group during the 4th quarter worth about $80,000. Institutional investors own 44.08% of the company’s stock.

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.