Emeren Group (NYSE:SOL) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Emeren Group (NYSE:SOL) from a sell rating to a hold rating in a research note released on Thursday.

A number of other research analysts have also recently commented on the company. Roth Mkm restated a “buy” rating and issued a $3.00 price target on shares of Emeren Group in a research report on Wednesday, August 21st. HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of Emeren Group in a research report on Friday, November 15th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Emeren Group has a consensus rating of “Hold” and an average target price of $3.83.

Emeren Group Trading Up 2.7 %

Shares of Emeren Group stock opened at $1.87 on Thursday. 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 firm has a 50-day moving average of $2.39 and a 200-day moving average of $1.98. Emeren Group has a 52-week low of $1.41 and a 52-week high of $3.00. The stock has a market cap of $95.85 million, a PE ratio of -14.38 and a beta of 1.73.

Insider Activity

In other Emeren Group news, Chairman Shah Capital Management purchased 26,843 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average price of $1.83 per share, for a total transaction of $49,122.69. Following the completion of the acquisition, the chairman now owns 18,655,151 shares in the company, valued at approximately $34,138,926.33. This trade represents a 0.14 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 37.31% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SOL. Mercer Global Advisors Inc. ADV increased its stake in shares of Emeren Group by 160.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 47,809 shares of the semiconductor company’s stock valued at $72,000 after buying an additional 29,484 shares during the period. XTX Topco Ltd acquired a new position in shares of Emeren Group in the 3rd quarter worth approximately $88,000. Finally, Long Run Wealth Advisors LLC bought a new stake in shares of Emeren Group in the 3rd quarter valued at $28,000. 44.08% of the stock is owned by institutional investors.

Emeren Group Company 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.