StockNews.com upgraded shares of Emeren Group (NYSE:SOL – Free Report) to a sell rating in a research report report published on Friday.
Several other brokerages have also recently issued reports on SOL. HC Wainwright reiterated a buy rating and issued a $7.00 price objective on shares of Emeren Group in a research note on Friday. Northland Securities downgraded Emeren Group from a market perform rating to an under perform rating and set a $1.50 price objective for the company. in a report on Friday. Three analysts have rated the stock with a sell rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Emeren Group has a consensus rating of Hold and a consensus price target of $5.38.
Get Our Latest Analysis on Emeren Group
Emeren Group Stock Performance
Emeren Group (NYSE:SOL – Get Free Report) last announced its quarterly earnings data on Thursday, March 28th. The semiconductor company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The company had revenue of $44.00 million during the quarter, compared to analysts’ expectations of $39.22 million. Emeren Group had a negative net margin of 12.70% and a negative return on equity of 0.88%. As a group, analysts anticipate that Emeren Group will post 0.3 EPS for the current year.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the business. Aigen Investment Management LP boosted its stake in shares of Emeren Group by 74.1% during the third quarter. Aigen Investment Management LP now owns 19,737 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 8,401 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Emeren Group during the third quarter valued at $36,000. Janney Montgomery Scott LLC acquired a new stake in shares of Emeren Group during the third quarter valued at $44,000. Quadrature Capital Ltd boosted its stake in shares of Emeren Group by 42.0% during the third quarter. Quadrature Capital Ltd now owns 59,685 shares of the semiconductor company’s stock valued at $184,000 after acquiring an additional 17,659 shares during the last quarter. Finally, Alpine Global Management LLC acquired a new stake in shares of Emeren Group during the third quarter valued at $62,000. Hedge funds and other institutional investors own 44.08% of the company’s stock.
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.
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