Monaco Asset Management SAM Grows Stock Holdings in Emeren Group Ltd (NYSE:SOL)

Monaco Asset Management SAM lifted its position in Emeren Group Ltd (NYSE:SOL) by 35.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,847,764 shares of the semiconductor company’s stock after purchasing an additional 486,063 shares during the quarter. Emeren Group accounts for about 0.5% of Monaco Asset Management SAM’s holdings, making the stock its 20th largest holding. Monaco Asset Management SAM’s holdings in Emeren Group were worth $3,751,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Emeren Group in the 4th quarter worth approximately $80,000. Apollon Wealth Management LLC grew its position in Emeren Group by 45.5% during the 4th quarter. Apollon Wealth Management LLC now owns 29,100 shares of the semiconductor company’s stock worth $59,000 after acquiring an additional 9,100 shares during the last quarter. Shah Capital Management grew its position in Emeren Group by 0.4% during the 4th quarter. Shah Capital Management now owns 18,818,236 shares of the semiconductor company’s stock worth $38,201,000 after acquiring an additional 69,374 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in Emeren Group in the 3rd quarter worth approximately $88,000. 44.08% of the stock is currently owned by institutional investors.

Emeren Group Stock Up 5.0 %

SOL stock opened at $1.46 on Friday. The company has a market capitalization of $74.83 million, a price-to-earnings ratio of -11.23 and a beta of 1.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.34 and a current ratio of 4.34. The business’s 50 day moving average price is $1.80 and its two-hundred day moving average price is $2.05. Emeren Group Ltd has a fifty-two week low of $1.30 and a fifty-two week high of $3.00.

Emeren Group (NYSE:SOL) last issued its quarterly earnings results 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%. During the same period in the previous year, the firm earned ($0.15) earnings per share. As a group, analysts forecast that Emeren Group Ltd will post 0.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SOL shares. BWS Financial reissued a “sell” rating and set a $6.00 price objective on shares of Emeren Group in a research note on Monday, December 16th. HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Emeren Group in a research report on Friday, November 15th. Finally, StockNews.com upgraded shares of Emeren Group from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. 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 stock. According to MarketBeat, Emeren Group presently has a consensus rating of “Hold” and a consensus target price of $4.38.

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.