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

Wall Street Zen upgraded shares of Emeren Group (NYSE:SOL) from a hold rating to a buy rating in a report issued on Saturday morning.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Emeren Group in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.00.

Emeren Group Trading Up 0.3%

Shares of SOL stock opened at $1.94 on Friday. The company has a current ratio of 4.28, a quick ratio of 4.28 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $99.30 million, a price-to-earnings ratio of -10.75 and a beta of 1.07. Emeren Group has a 12-month low of $1.04 and a 12-month high of $2.30. The stock’s 50-day moving average price is $1.84 and its 200-day moving average price is $1.85.

Hedge Funds Weigh In On Emeren Group

Several large investors have recently modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ bought a new stake in Emeren Group in the second quarter worth $388,000. Jane Street Group LLC bought a new stake in shares of Emeren Group in the 2nd quarter worth about $179,000. GSA Capital Partners LLP boosted its stake in shares of Emeren Group by 67.9% during the 3rd quarter. GSA Capital Partners LLP now owns 214,437 shares of the semiconductor company’s stock worth $405,000 after purchasing an additional 86,720 shares during the period. Virtu Financial LLC purchased a new stake in Emeren Group in the 1st quarter worth about $47,000. Finally, XTX Topco Ltd bought a new stake in Emeren Group in the second quarter worth about $44,000. Institutional investors own 44.08% of the company’s stock.

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.