Emeren Group (NYSE:SOL) Price Target Cut to $2.00 by Analysts at Roth Mkm

Emeren Group (NYSE:SOL) had its target price trimmed by Roth Mkm from $3.00 to $2.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

Several other equities analysts have also issued reports on the company. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of Emeren Group in a research report on Friday, March 14th. BWS Financial restated a “sell” rating and issued a $6.00 target price on shares of Emeren Group in a report on Monday, December 16th. Finally, StockNews.com lowered shares of Emeren Group from a “hold” rating to a “sell” rating in a report on Friday, March 14th. Four analysts have rated the stock with a sell rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $4.13.

Emeren Group Stock Performance

Shares of NYSE SOL opened at $1.67 on Monday. The stock’s 50-day moving average is $1.74 and its 200 day moving average is $2.04. The stock has a market cap of $85.34 million, a price-to-earnings ratio of -12.81 and a beta of 1.70. Emeren Group has a 1-year low of $1.04 and a 1-year high of $3.00. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.10.

Emeren Group (NYSE:SOL) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $40.13 million. During the same quarter in the previous year, the firm posted ($0.15) earnings per share. On average, sell-side analysts anticipate that Emeren Group will post 0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. XTX Topco Ltd purchased a new position in shares of Emeren Group in the 3rd quarter valued at approximately $88,000. Shah Capital Management raised its holdings 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 worth $38,201,000 after purchasing an additional 69,374 shares in the last quarter. Apollon Wealth Management LLC lifted its position in Emeren Group by 45.5% during the fourth quarter. Apollon Wealth Management LLC now owns 29,100 shares of the semiconductor company’s stock valued at $59,000 after buying an additional 9,100 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Emeren Group during the 4th quarter valued at $80,000. Finally, Monaco Asset Management SAM grew its position in shares of Emeren Group by 35.7% in the 4th quarter. Monaco Asset Management SAM now owns 1,847,764 shares of the semiconductor company’s stock worth $3,751,000 after buying an additional 486,063 shares during the period. Hedge funds and other institutional investors 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.