Harel Insurance Investments & Financial Services Ltd. Lowers Holdings in Emeren Group Ltd (NYSE:SOL)

Harel Insurance Investments & Financial Services Ltd. lowered its position in Emeren Group Ltd (NYSE:SOL) by 12.3% in the fourth quarter, Holdings Channel reports. The fund owned 46,717 shares of the semiconductor company’s stock after selling 6,574 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Emeren Group were worth $128,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SOL. Alpine Global Management LLC purchased a new stake in shares of Emeren Group during the 3rd quarter worth approximately $62,000. Quadrature Capital Ltd raised its position in Emeren Group by 42.0% during the 3rd quarter. Quadrature Capital Ltd now owns 59,685 shares of the semiconductor company’s stock worth $184,000 after buying an additional 17,659 shares during the last quarter. Aigen Investment Management LP raised its position in Emeren Group by 74.1% during the 3rd quarter. Aigen Investment Management LP now owns 19,737 shares of the semiconductor company’s stock worth $61,000 after buying an additional 8,401 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Emeren Group by 39.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 111,425 shares of the semiconductor company’s stock worth $343,000 after buying an additional 31,660 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Emeren Group during the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 44.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SOL shares. StockNews.com upgraded shares of Emeren Group to a “sell” rating in a research report on Monday, April 1st. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Emeren Group in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Emeren Group currently has an average rating of “Moderate Buy” and an average price target of $5.80.

Emeren Group Stock Down 7.5 %

NYSE:SOL opened at $1.86 on Tuesday. The company has a quick ratio of 5.40, a current ratio of 5.40 and a debt-to-equity ratio of 0.06. Emeren Group Ltd has a fifty-two week low of $1.54 and a fifty-two week high of $4.46. The firm’s fifty day simple moving average is $2.03 and its 200-day simple moving average is $2.34.

Emeren Group Company Profile

Emeren Group Ltd, through its subsidiaries, develops, builds, operates, and sells solar power projects. It owns and operates 3 gigawatt pipeline of projects and independent power producer assets. The company also develops community solar gardens; and sells project rights. In addition, it engages in engineering design; procurement of solar modules; balance-of-system components and other components; and construction contracting and management services.