Emeren Group (NYSE:SOL) Earns “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Emeren Group (NYSE:SOL) in a research note issued to investors on Friday,Benzinga reports. The firm currently has a $7.00 price target on the semiconductor company’s stock.

A number of other equities analysts have also recently weighed in on SOL. BWS Financial reiterated a “sell” rating and set a $6.00 price target on shares of Emeren Group in a report on Monday, December 16th. StockNews.com raised Emeren Group from a “sell” rating to a “hold” rating in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Emeren Group currently has a consensus rating of “Hold” and an average price target of $4.38.

Emeren Group Stock Performance

NYSE SOL opened at $1.19 on Friday. The stock has a market cap of $60.74 million, a PE ratio of -9.12 and a beta of 1.70. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.10. Emeren Group has a twelve month low of $1.04 and a twelve month high of $3.00. The stock has a fifty day simple moving average of $1.79 and a 200-day simple moving average of $2.05.

Emeren Group (NYSE:SOL) last released its quarterly earnings results on Thursday, March 13th. The semiconductor company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.31). The business had revenue of $34.60 million for the quarter, compared to analysts’ expectations of $40.13 million. Emeren Group had a negative return on equity of 2.05% and a negative net margin of 7.14%. During the same quarter in the prior year, the company posted ($0.15) earnings per share. Equities analysts anticipate that Emeren Group will post 0.1 earnings per share for the current year.

Hedge Funds Weigh In On Emeren Group

Hedge funds have recently bought and sold shares of the company. XTX Topco Ltd acquired a new position in Emeren Group during the 3rd quarter worth about $88,000. Apollon Wealth Management LLC raised its position in Emeren Group by 45.5% in the 4th quarter. Apollon Wealth Management LLC now owns 29,100 shares of the semiconductor company’s stock valued at $59,000 after purchasing an additional 9,100 shares in the last quarter. Shah Capital Management raised its position in Emeren Group by 0.4% in the 4th quarter. Shah Capital Management now owns 18,818,236 shares of the semiconductor company’s stock valued at $38,201,000 after purchasing an additional 69,374 shares in the last quarter. Monaco Asset Management SAM raised its position in Emeren Group by 35.7% in the 4th quarter. Monaco Asset Management SAM now owns 1,847,764 shares of the semiconductor company’s stock valued at $3,751,000 after purchasing an additional 486,063 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Emeren Group in the 4th quarter valued at about $80,000. Institutional investors and hedge funds own 44.08% of the company’s stock.

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.