HC Wainwright Reaffirms Buy Rating for Emeren Group (NYSE:SOL)

Emeren Group (NYSE:SOL)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a report issued on Friday,Benzinga reports. They currently have a $7.00 target price on the semiconductor company’s stock. HC Wainwright’s target price suggests a potential upside of 250.00% from the stock’s current price.

A number of other analysts have also recently commented on SOL. Roth Mkm reissued a “buy” rating and issued a $3.00 price target on shares of Emeren Group in a research report on Wednesday, August 21st. StockNews.com downgraded Emeren Group from a “hold” rating to a “sell” rating in a report on Wednesday. Three 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 presently has a consensus rating of “Hold” and an average target price of $3.83.

Emeren Group Stock Performance

NYSE:SOL opened at $2.00 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.27 and a current ratio of 4.27. Emeren Group has a fifty-two week low of $1.41 and a fifty-two week high of $3.00. The firm has a market cap of $102.52 million, a PE ratio of -5.13 and a beta of 1.73. The business has a 50 day moving average price of $2.42 and a 200-day moving average price of $1.97.

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

Insider Buying and Selling

In other news, Chairman Shah Capital Management purchased 26,843 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average cost of $1.83 per share, with a total value of $49,122.69. Following the completion of the acquisition, the chairman now owns 18,655,151 shares of the company’s stock, valued at approximately $34,138,926.33. This represents a 0.14 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 37.31% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Emeren Group

A hedge fund recently bought a new stake in Emeren Group stock. Long Run Wealth Advisors LLC acquired a new stake in Emeren Group Ltd (NYSE:SOL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,300 shares of the semiconductor company’s stock, valued at approximately $28,000. 44.08% of the stock is currently owned by hedge funds and other 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.