Roth Mkm Lowers Emeren Group (NYSE:SOL) Price Target to $2.00

Emeren Group (NYSE:SOL) had its price objective lowered by stock analysts at Roth Mkm from $3.00 to $2.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Roth Mkm’s target price indicates a potential upside of 23.84% from the stock’s previous close.

SOL has been the subject of a number of other reports. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Emeren Group in a research report on Friday. StockNews.com cut shares of Emeren Group from a “hold” rating to a “sell” rating in a research report on Friday. Finally, BWS Financial reiterated a “sell” rating and issued a $6.00 price target on shares of Emeren Group in a research note on Monday, December 16th. Four investment analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $4.13.

Emeren Group Trading Up 35.7 %

Shares of NYSE:SOL traded up $0.43 during midday trading on Monday, reaching $1.62. The company’s stock had a trading volume of 6,123,686 shares, compared to its average volume of 301,113. The business has a 50 day moving average price of $1.77 and a 200 day moving average price of $2.04. Emeren Group has a 1 year low of $1.04 and a 1 year high of $3.00. The firm has a market cap of $82.78 million, a price-to-earnings ratio of -12.42 and a beta of 1.70. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.10.

Emeren Group (NYSE:SOL) last announced its quarterly earnings data on Thursday, March 13th. The semiconductor company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.31). Emeren Group had a negative return on equity of 2.05% and a negative net margin of 7.14%. The company had revenue of $34.60 million for the quarter, compared to analysts’ expectations of $40.13 million. During the same quarter in the previous year, the company earned ($0.15) earnings per share. Research analysts forecast that Emeren Group will post 0.1 EPS for the current year.

Hedge Funds Weigh In On Emeren Group

Hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new position in Emeren Group in the 3rd quarter worth approximately $88,000. Apollon Wealth Management LLC grew its stake in shares of Emeren Group by 45.5% in the fourth 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 shares of Emeren Group by 0.4% during the fourth quarter. Shah Capital Management now owns 18,818,236 shares of the semiconductor company’s stock valued at $38,201,000 after purchasing an additional 69,374 shares during the period. Monaco Asset Management SAM grew its position in Emeren Group by 35.7% in the 4th quarter. Monaco Asset Management SAM now owns 1,847,764 shares of the semiconductor company’s stock valued at $3,751,000 after buying an additional 486,063 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Emeren Group in the 4th quarter worth approximately $80,000. Institutional investors and hedge funds 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.