Emeren Group (NYSE:SOL) Given “Buy” Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Emeren Group (NYSE:SOL) in a research note released on Friday,Benzinga reports. They currently have a $7.00 price target on the semiconductor company’s stock. HC Wainwright also issued estimates for Emeren Group’s FY2025 earnings at $0.56 EPS.

A number of other equities research analysts have also commented on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $3.00 price objective on shares of Emeren Group in a research note on Wednesday, August 21st. StockNews.com downgraded shares of Emeren Group from a “hold” rating to a “sell” rating in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $3.83.

Emeren Group Trading Down 4.5 %

SOL traded down $0.09 during trading on Friday, reaching $1.91. 372,067 shares of the company’s stock were exchanged, compared to its average volume of 353,131. Emeren Group has a one year low of $1.41 and a one year high of $3.00. The company has a current ratio of 4.27, a quick ratio of 4.27 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $97.90 million, a PE ratio of -14.69 and a beta of 1.73. The firm has a fifty day moving average price of $2.42 and a two-hundred day moving average price of $1.97.

Emeren Group (NYSE:SOL) last posted its earnings results on Tuesday, August 20th. The semiconductor company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Emeren Group had a negative return on equity of 3.15% and a negative net margin of 20.91%. The business had revenue of $30.06 million for the quarter, compared to the consensus estimate of $21.10 million. During the same period in the previous year, the firm earned $0.14 earnings per share. As a group, equities research analysts forecast that Emeren Group will post 0.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Emeren Group news, Chairman Shah Capital Management acquired 26,843 shares of the stock in a transaction on Tuesday, September 3rd. The shares were purchased 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 represents a 0.14 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 37.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Long Run Wealth Advisors LLC bought a new stake in shares of Emeren Group in the 3rd quarter worth $28,000. Mercer Global Advisors Inc. ADV grew its stake 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 worth $72,000 after acquiring an additional 29,484 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Emeren Group in the 3rd quarter worth $88,000. 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.