Emeren Group’s (SOL) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Emeren Group (NYSE:SOL) in a report published on Friday,Benzinga reports. The firm currently has 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.

Several other analysts have also issued reports on SOL. Roth Mkm restated a “buy” rating and set a $3.00 price target on shares of Emeren Group in a research report on Wednesday, August 21st. StockNews.com cut shares of Emeren Group from a “hold” rating to a “sell” rating in a report on Wednesday. Three research analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $3.83.

Emeren Group Stock Performance

SOL traded down $0.09 during trading on Friday, hitting $1.91. 372,067 shares of the company traded hands, compared to its average volume of 353,131. The company has a quick ratio of 4.27, a current ratio of 4.27 and a debt-to-equity ratio of 0.07. The firm has a market cap of $97.90 million, a P/E ratio of -14.69 and a beta of 1.73. Emeren Group has a one year low of $1.41 and a one year high of $3.00. The stock’s fifty day moving average is $2.42 and its 200 day moving average is $1.97.

Emeren Group (NYSE:SOL) last issued 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). The business had revenue of $30.06 million for the quarter, compared to the consensus estimate of $21.10 million. Emeren Group had a negative return on equity of 3.15% and a negative net margin of 20.91%. During the same quarter in the prior year, the business earned $0.14 EPS. As a group, equities analysts predict that Emeren Group will post 0.33 EPS for the current fiscal year.

Insider Buying and Selling at Emeren Group

In related news, Chairman Shah Capital Management acquired 26,843 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average cost of $1.83 per share, for a total transaction of $49,122.69. Following the purchase, the chairman now owns 18,655,151 shares in the company, valued at $34,138,926.33. The trade was a 0.14 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 37.31% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SOL. XTX Topco Ltd purchased a new stake in shares of Emeren Group during the 3rd quarter worth approximately $88,000. Long Run Wealth Advisors LLC purchased a new stake in shares of Emeren Group during the 3rd quarter worth approximately $28,000. Finally, Mercer Global Advisors Inc. ADV raised its holdings 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 worth $72,000 after acquiring an additional 29,484 shares in the last quarter. 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.