Emeren Group Ltd (NYSE:SOL) Chairman Shah Capital Management Acquires 12,710 Shares

Emeren Group Ltd (NYSE:SOL) Chairman Shah Capital Management bought 12,710 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average price of $1.77 per share, with a total value of $22,496.70. Following the completion of the purchase, the chairman now directly owns 18,755,172 shares of the company’s stock, valued at approximately $33,196,654.44. The trade was a 0.07 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Emeren Group Trading Up 0.6 %

Shares of SOL stock opened at $1.78 on Monday. Emeren Group Ltd has a fifty-two week low of $1.41 and a fifty-two week high of $3.00. The firm’s 50 day moving average price is $2.22 and its two-hundred day moving average price is $1.97. The stock has a market cap of $91.24 million, a price-to-earnings ratio of -13.69 and a beta of 1.64. 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 Trading of Emeren Group

A number of institutional investors have recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV raised its stake in shares of 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 purchasing an additional 29,484 shares during the period. Long Run Wealth Advisors LLC acquired a new stake in Emeren Group during the 3rd quarter valued at $28,000. Finally, XTX Topco Ltd purchased a new stake in Emeren Group during the 3rd quarter worth $88,000. 44.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SOL has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Emeren Group in a research note on Friday, November 15th. Roth Mkm reaffirmed a “buy” rating and set a $3.00 price target on shares of Emeren Group in a research report on Wednesday, August 21st. Finally, StockNews.com raised shares of Emeren Group from a “sell” rating to a “hold” rating in a research note on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $3.83.

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.