Brokerages Set Emeren Group Ltd (NYSE:SOL) Price Target at $4.38

Shares of Emeren Group Ltd (NYSE:SOL) have been given an average rating of “Reduce” by the five research firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell rating and two have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $4.38.

SOL has been the subject of a number of research reports. BWS Financial restated a “sell” rating and issued a $6.00 price objective on shares of Emeren Group in a report on Monday, December 16th. StockNews.com upgraded shares of Emeren Group from a “sell” rating to a “hold” rating in a research note on Thursday, November 21st. Finally, HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Emeren Group in a research note on Friday, November 15th.

Emeren Group Stock Performance

NYSE SOL opened at $1.82 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.34 and a quick ratio of 4.34. The company has a market cap of $93.28 million, a P/E ratio of -14.00 and a beta of 1.64. The stock has a 50-day moving average of $2.15 and a two-hundred day moving average of $1.97. Emeren Group has a 1-year low of $1.41 and a 1-year high of $3.00.

Institutional Investors Weigh In On Emeren Group

Institutional investors have recently modified their holdings of the company. Long Run Wealth Advisors LLC acquired a new stake in shares of Emeren Group during the 3rd quarter worth about $28,000. XTX Topco Ltd purchased a new position in Emeren Group in the third quarter valued at approximately $88,000. Finally, Mercer Global Advisors Inc. ADV raised its holdings 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 worth $72,000 after purchasing an additional 29,484 shares in the last quarter. 44.08% of the stock is owned by hedge funds and other institutional investors.

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.