GSA Capital Partners LLP Has $1.39 Million Stock Position in Emeren Group Ltd (NYSE:SOL)

GSA Capital Partners LLP cut its holdings in Emeren Group Ltd (NYSE:SOL) by 36.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 515,025 shares of the semiconductor company’s stock after selling 300,663 shares during the period. GSA Capital Partners LLP owned about 1.00% of Emeren Group worth $1,391,000 at the end of the most recent quarter.

Separately, Mercer Global Advisors Inc. ADV grew its position in 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 purchasing an additional 29,484 shares in the last quarter. 44.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. StockNews.com downgraded shares of Emeren Group from a “hold” rating to a “sell” rating in a research note on Wednesday. HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Emeren Group in a research report on Wednesday, August 21st. Finally, Roth Mkm restated a “buy” rating and issued a $3.00 price target on shares of Emeren Group in a research note on Wednesday, August 21st. Three investment analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $3.83.

Emeren Group Stock Up 2.0 %

Emeren Group stock opened at $2.06 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.27 and a quick ratio of 4.27. The company’s 50-day moving average is $2.42 and its 200-day moving average is $1.97. The firm has a market capitalization of $105.60 million, a PE ratio of -5.28 and a beta of 1.73. Emeren Group Ltd has a fifty-two week low of $1.41 and a fifty-two week high of $3.00.

Emeren Group (NYSE:SOL) last released its quarterly earnings data on Tuesday, August 20th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $30.06 million during the quarter, compared to the consensus estimate of $21.10 million. Emeren Group had a negative net margin of 20.91% and a negative return on equity of 3.15%. During the same quarter in the prior year, the company earned $0.14 EPS. Sell-side analysts anticipate that Emeren Group Ltd will post 0.33 earnings per share for the current year.

Insiders Place Their Bets

In related news, Chairman Shah Capital Management acquired 26,843 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $1.83 per share, with a total value of $49,122.69. Following the completion of the transaction, the chairman now directly owns 18,655,151 shares of the company’s stock, valued at $34,138,926.33. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 37.31% of the company’s stock.

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.