Brokerages Set Emeren Group Ltd (NYSE:SOL) PT at $4.38

Shares of Emeren Group Ltd (NYSE:SOL) have received a consensus recommendation of “Reduce” from the five ratings firms that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $4.38.

Several brokerages have issued reports on SOL. StockNews.com raised Emeren Group from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Emeren Group in a research note on Friday, November 15th. Finally, 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.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Long Run Wealth Advisors LLC purchased a new position in Emeren Group in the 3rd quarter valued at $28,000. Mercer Global Advisors Inc. ADV lifted its stake in shares of Emeren Group by 160.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 47,809 shares of the semiconductor company’s stock worth $72,000 after acquiring an additional 29,484 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of Emeren Group in the third quarter valued at about $88,000. 44.08% of the stock is currently owned by hedge funds and other institutional investors.

Emeren Group Stock Performance

Shares of Emeren Group stock opened at $1.90 on Friday. 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 firm’s 50 day moving average is $1.99 and its two-hundred day moving average is $2.03. The firm has a market capitalization of $97.38 million, a P/E ratio of -14.62 and a beta of 1.63. Emeren Group has a 52 week low of $1.41 and a 52 week high of $3.00.

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.