Shah Capital Management Grows Stock Holdings in Emeren Group Ltd (NYSE:SOL)

Shah Capital Management grew its holdings in Emeren Group Ltd (NYSE:SOL) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,818,236 shares of the semiconductor company’s stock after acquiring an additional 69,374 shares during the period. Emeren Group accounts for 7.7% of Shah Capital Management’s portfolio, making the stock its 4th largest holding. Shah Capital Management owned 36.71% of Emeren Group worth $38,201,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV grew 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 valued at $72,000 after acquiring an additional 29,484 shares in the last quarter. Long Run Wealth Advisors LLC purchased a new position in Emeren Group during the third quarter valued at $28,000. Finally, XTX Topco Ltd purchased a new position in Emeren Group during the third quarter valued at $88,000. 44.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on SOL. StockNews.com raised shares of Emeren Group from a “sell” rating to a “hold” rating in a research note on Thursday, November 21st. BWS Financial reaffirmed a “sell” rating and set a $6.00 target price on shares of Emeren Group in a research note on Monday, December 16th. Finally, HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Emeren Group in a research note on Friday, November 15th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $4.38.

Emeren Group Stock Down 0.3 %

SOL stock opened at $1.97 on Monday. Emeren Group Ltd has a 12 month low of $1.41 and a 12 month high of $3.00. 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 50-day moving average price of $1.96 and a 200 day moving average price of $2.06.

Emeren Group 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.