Emeren Group (SOL) to Release Quarterly Earnings on Thursday

Emeren Group (NYSE:SOL) will be releasing its earnings data after the market closes on Thursday, November 14th. Analysts expect Emeren Group to post earnings of $0.09 per share for the quarter. Emeren Group has set its FY 2024 guidance at EPS and its Q3 2024 guidance at EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Emeren Group (NYSE:SOL) last posted its quarterly earnings results on Tuesday, August 20th. The semiconductor company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Emeren Group had a negative return on equity of 3.15% and a negative net margin of 20.91%. The company had revenue of $30.06 million for the quarter, compared to analyst estimates of $21.10 million. During the same period last year, the company earned $0.14 earnings per share. On average, analysts expect Emeren Group to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Emeren Group Price Performance

Shares of NYSE SOL opened at $2.13 on Tuesday. The stock has a market capitalization of $109.17 million, a price-to-earnings ratio of -5.46 and a beta of 1.73. Emeren Group has a 52 week low of $1.41 and a 52 week high of $3.00. The firm has a 50-day moving average price of $2.41 and a 200 day moving average price of $1.97. The company has a quick ratio of 4.27, a current ratio of 4.27 and a debt-to-equity ratio of 0.07.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SOL. StockNews.com upgraded shares of Emeren Group from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of Emeren Group in a research note on Wednesday, August 21st. Finally, Roth Mkm reissued a “buy” rating and set a $3.00 price target on shares of Emeren Group in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $3.83.

Insider Buying and Selling at Emeren Group

In other Emeren Group news, Chairman Shah Capital Management bought 26,843 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $1.83 per share, with a total value of $49,122.69. Following the transaction, the chairman now owns 18,655,151 shares in the company, valued at $34,138,926.33. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 37.31% of the stock is owned by company insiders.

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.