Emeren Group (NYSE:SOL) Price Target Lowered to $2.00 at Roth Mkm

Emeren Group (NYSE:SOL) had its price objective cut by stock analysts at Roth Mkm from $3.00 to $2.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Roth Mkm’s target price suggests a potential upside of 23.84% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the company. StockNews.com cut Emeren Group from a “hold” rating to a “sell” rating in a research note on Friday. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of Emeren Group in a report on Friday. 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. Four equities research analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $4.13.

Emeren Group Price Performance

NYSE SOL traded up $0.43 on Monday, reaching $1.62. The company’s stock had a trading volume of 6,123,686 shares, compared to its average volume of 301,113. The firm’s 50 day moving average is $1.77 and its two-hundred day moving average is $2.04. The stock has a market cap of $82.78 million, a PE ratio of -12.42 and a beta of 1.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.34 and a current ratio of 4.34. Emeren Group has a twelve month low of $1.04 and a twelve month high of $3.00.

Emeren Group (NYSE:SOL) last issued its earnings results on Thursday, March 13th. The semiconductor company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.31). Emeren Group had a negative return on equity of 2.05% and a negative net margin of 7.14%. The business had revenue of $34.60 million for the quarter, compared to the consensus estimate of $40.13 million. During the same quarter in the previous year, the business posted ($0.15) earnings per share. As a group, sell-side analysts predict that Emeren Group will post 0.1 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Monaco Asset Management SAM raised its stake in shares of Emeren Group by 35.7% during the 4th quarter. Monaco Asset Management SAM now owns 1,847,764 shares of the semiconductor company’s stock worth $3,751,000 after purchasing an additional 486,063 shares in the last quarter. Invesco Ltd. raised its position in Emeren Group by 26.5% during the fourth quarter. Invesco Ltd. now owns 792,148 shares of the semiconductor company’s stock valued at $1,608,000 after acquiring an additional 165,902 shares in the last quarter. Shah Capital Management lifted its stake in Emeren Group by 0.4% in the fourth quarter. Shah Capital Management now owns 18,818,236 shares of the semiconductor company’s stock valued at $38,201,000 after acquiring an additional 69,374 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Emeren Group in the fourth quarter valued at approximately $80,000. Finally, XTX Topco Ltd bought a new stake in Emeren Group in the third quarter worth approximately $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.