Emeren Group (NYSE:SOL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Emeren Group (NYSE:SOL) from a hold rating to a buy rating in a research note published on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Emeren Group in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Emeren Group has a consensus rating of “Hold” and an average target price of $4.50.

Emeren Group Stock Up 0.7%

Shares of NYSE SOL opened at $1.94 on Friday. The firm has a market cap of $99.77 million, a price-to-earnings ratio of -10.80 and a beta of 1.07. The company’s 50-day simple moving average is $1.84 and its 200-day simple moving average is $1.85. The company has a quick ratio of 4.28, a current ratio of 4.28 and a debt-to-equity ratio of 0.19. Emeren Group has a 52-week low of $1.04 and a 52-week high of $2.30.

Institutional Investors Weigh In On Emeren Group

Several institutional investors and hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP boosted its holdings in Emeren Group by 67.9% during the 3rd quarter. GSA Capital Partners LLP now owns 214,437 shares of the semiconductor company’s stock valued at $405,000 after acquiring an additional 86,720 shares during the period. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Emeren Group by 2.9% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 213,681 shares of the semiconductor company’s stock valued at $404,000 after purchasing an additional 6,093 shares in the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Emeren Group in the second quarter valued at approximately $388,000. Jane Street Group LLC purchased a new stake in Emeren Group during the 2nd quarter worth approximately $179,000. Finally, Citadel Advisors LLC lifted its holdings in Emeren Group by 31.9% during the 3rd quarter. Citadel Advisors LLC now owns 95,473 shares of the semiconductor company’s stock worth $180,000 after buying an additional 23,101 shares in the last quarter. 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.