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

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

A number of research firms have recently commented on SOL. BWS Financial reaffirmed 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 reaffirmed 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 report on Thursday, November 21st.

Emeren Group Stock Performance

Emeren Group stock opened at $2.02 on Friday. The stock has a fifty day moving average price of $2.00 and a 200 day moving average price of $2.03. Emeren Group has a 52 week low of $1.41 and a 52 week high of $3.00. The firm has a market capitalization of $103.54 million, a P/E ratio of -15.54 and a beta of 1.63. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.10.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SOL. XTX Topco Ltd acquired a new stake in shares of Emeren Group in the third quarter worth $88,000. Mercer Global Advisors Inc. ADV increased its holdings in Emeren Group by 160.9% in the 2nd 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 in the last quarter. Finally, Long Run Wealth Advisors LLC purchased a new position in Emeren Group in the third quarter valued at about $28,000. 44.08% of the stock is owned by institutional investors and hedge funds.

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.