Emeren Group (NYSE:SOL) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Emeren Group Ltd (NYSE:SOL)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.01 and traded as high as $2.30. Emeren Group shares last traded at $2.25, with a volume of 407,857 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SOL shares. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Emeren Group in a research report on Friday, November 15th. BWS Financial reiterated a “sell” rating and set a $6.00 target price on shares of Emeren Group in a research note on Monday, December 16th. Finally, StockNews.com raised shares of Emeren Group from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. Three analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $4.38.

Emeren Group Trading Down 6.2 %

The firm has a 50 day moving average price of $2.01 and a two-hundred day moving average price of $2.01. The firm has a market capitalization of $108.15 million, a P/E ratio of -16.23 and a beta of 1.63. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.34 and a current ratio of 4.34.

Institutional Investors Weigh In On Emeren Group

Hedge funds have recently bought and sold shares of the company. Long Run Wealth Advisors LLC bought a new position in Emeren Group in the third quarter valued at about $28,000. Mercer Global Advisors Inc. ADV increased its position in shares of 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 buying an additional 29,484 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Emeren Group during the 3rd quarter valued at about $88,000. 44.08% of the stock is currently 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.