Brokerages Set Emeren Group Ltd (NYSE:SOL) Target Price at $4.38

Shares of Emeren Group Ltd (NYSE:SOL) have been given an average rating of “Reduce” by the five ratings firms that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $4.38.

Several equities analysts recently issued reports on SOL shares. HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of Emeren Group in a research report on Friday, November 15th. StockNews.com upgraded Emeren Group from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. Finally, BWS Financial restated a “sell” rating and issued a $6.00 price target on shares of Emeren Group in a research report on Monday, December 16th.

Emeren Group Stock Performance

Shares of SOL stock opened at $1.82 on Monday. The stock has a market capitalization of $93.28 million, a PE ratio of -14.00 and a beta of 1.64. Emeren Group has a 52-week low of $1.41 and a 52-week high of $3.00. The stock’s 50-day moving average price is $2.13 and its 200 day moving average price is $1.97. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.10.

Hedge Funds Weigh In On Emeren Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new position in Emeren Group during the 3rd quarter worth approximately $88,000. Mercer Global Advisors Inc. ADV increased its position in 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 purchasing an additional 29,484 shares during the period. Finally, Long Run Wealth Advisors LLC acquired a new position in Emeren Group during the 3rd quarter worth approximately $28,000. Institutional investors and hedge funds own 44.08% 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.