Emeren Group Ltd (NYSE:SOL) is Shah Capital Management’s 4th Largest Position

Shah Capital Management raised its stake in Emeren Group Ltd (NYSE:SOL) by 0.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 18,818,236 shares of the semiconductor company’s stock after buying an additional 69,374 shares during the period. Emeren Group makes up about 7.7% of Shah Capital Management’s investment portfolio, making the stock its 4th biggest position. Shah Capital Management owned approximately 0.37% of Emeren Group worth $38,201,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Long Run Wealth Advisors LLC bought a new stake in shares of Emeren Group in the 3rd quarter valued at about $28,000. Mercer Global Advisors Inc. ADV raised its holdings 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 purchasing 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 valued at about $88,000. 44.08% of the stock is owned by hedge funds and other institutional investors.

Emeren Group Stock Performance

NYSE SOL opened at $1.97 on Monday. 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 Ltd has a 52 week low of $1.41 and a 52 week high of $3.00. The company has a 50 day moving average price of $1.96 and a 200 day moving average price of $2.06.

Analyst Ratings Changes

SOL has been the subject of several recent analyst reports. BWS Financial reiterated a “sell” rating and set a $6.00 price objective on shares of Emeren Group in a research note on Monday, December 16th. HC Wainwright reiterated a “buy” rating and set a $7.00 price objective on shares of Emeren Group in a research note on Friday, November 15th. Finally, StockNews.com upgraded shares of Emeren Group from a “sell” rating to a “hold” rating in a research note on Thursday, November 21st. Three analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $4.38.

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.