Insider Buying: Emeren Group Ltd (NYSE:SOL) Chairman Purchases $22,496.70 in Stock

Emeren Group Ltd (NYSE:SOL) Chairman Shah Capital Management bought 12,710 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was bought at an average price of $1.77 per share, with a total value of $22,496.70. Following the completion of the purchase, the chairman now directly owns 18,755,172 shares in the company, valued at $33,196,654.44. This represents a 0.07 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Emeren Group Stock Performance

NYSE SOL opened at $1.78 on Thursday. The firm has a market capitalization of $91.23 million, a P/E ratio of -13.69 and a beta of 1.64. The stock has a 50-day simple moving average of $2.17 and a two-hundred day simple moving average of $1.97. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.34 and a current ratio of 4.34. Emeren Group Ltd has a fifty-two week low of $1.41 and a fifty-two week high of $3.00.

Institutional Trading of Emeren Group

Institutional investors have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV lifted its position in shares of Emeren Group by 160.9% during 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. Long Run Wealth Advisors LLC acquired a new position in Emeren Group during the third quarter worth $28,000. Finally, XTX Topco Ltd purchased a new position in Emeren Group during the third quarter valued at $88,000. 44.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SOL shares. StockNews.com raised Emeren Group from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Emeren Group in a research note on Friday, November 15th. Roth Mkm reaffirmed a “buy” rating and set a $3.00 target price on shares of Emeren Group in a report on Wednesday, August 21st. Finally, BWS Financial reiterated a “sell” rating and issued a $6.00 price target on shares of Emeren Group in a report on Monday. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $4.38.

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.