Emeren Group Ltd (NYSE:SOL) Receives Consensus Rating of “Reduce” from Analysts

Emeren Group Ltd (NYSE:SOL) has been assigned a consensus rating of “Reduce” from the five ratings firms that are covering the company, Marketbeat reports. Three analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $4.38.

Several research firms have recently issued reports on SOL. BWS Financial restated a “sell” rating and issued a $6.00 target price on shares of Emeren Group in a report on Monday. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of Emeren Group in a research report on Friday, November 15th. StockNews.com upgraded Emeren Group from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. Finally, Roth Mkm reissued a “buy” rating and set a $3.00 price target on shares of Emeren Group in a research note on Wednesday, August 21st.

Emeren Group Price Performance

Emeren Group stock traded up $0.12 during mid-day trading on Monday, reaching $1.90. 355,567 shares of the company’s stock traded hands, compared to its average volume of 342,323. Emeren Group has a 12-month low of $1.41 and a 12-month high of $3.00. The company has a market cap of $97.39 million, a price-to-earnings ratio of -14.46 and a beta of 1.64. The stock has a 50 day moving average of $2.22 and a two-hundred day moving average of $1.97. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.10.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SOL. Mercer Global Advisors Inc. ADV boosted its position in Emeren Group by 160.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 47,809 shares of the semiconductor company’s stock valued at $72,000 after buying an additional 29,484 shares during the last quarter. XTX Topco Ltd acquired a new stake in Emeren Group during the 3rd quarter valued at approximately $88,000. Finally, Long Run Wealth Advisors LLC purchased a new stake in shares of Emeren Group in the 3rd quarter valued at $28,000. Institutional investors and hedge funds own 44.08% of the company’s stock.

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.