Emeren Group Ltd (NYSE:SOL) Shares Sold by Monaco Asset Management SAM

Monaco Asset Management SAM reduced its stake in shares of Emeren Group Ltd (NYSE:SOL) by 44.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 647,745 shares of the semiconductor company’s stock after selling 522,255 shares during the period. Monaco Asset Management SAM owned 1.08% of Emeren Group worth $972,000 as of its most recent SEC filing.

Separately, GSA Capital Partners LLP boosted its holdings in shares of Emeren Group by 9.7% during the 1st quarter. GSA Capital Partners LLP now owns 747,448 shares of the semiconductor company’s stock worth $1,443,000 after purchasing an additional 66,284 shares during the last quarter. Institutional investors and hedge funds own 44.08% of the company’s stock.

Emeren Group Stock Up 10.0 %

Emeren Group stock opened at $2.09 on Tuesday. Emeren Group Ltd has a twelve month low of $1.41 and a twelve month high of $3.30. The stock’s fifty day simple moving average is $1.72 and its 200-day simple moving average is $1.82. The company has a current ratio of 4.27, a quick ratio of 4.27 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $107.13 million, a P/E ratio of -8.04 and a beta of 1.71.

Emeren Group (NYSE:SOL) last posted its quarterly earnings data on Tuesday, August 20th. The semiconductor company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Emeren Group had a negative return on equity of 3.15% and a negative net margin of 20.91%. The company had revenue of $30.06 million for the quarter, compared to analysts’ expectations of $21.10 million. During the same period in the prior year, the company posted $0.14 EPS. As a group, equities analysts expect that Emeren Group Ltd will post 0.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SOL has been the topic of several recent research reports. StockNews.com upgraded Emeren Group to a “sell” rating in a report on Friday, May 24th. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of Emeren Group in a report on Wednesday, August 21st. Northland Capmk lowered shares of Emeren Group from a “hold” rating to a “strong sell” rating in a research report on Friday, May 24th. Northland Securities lowered shares of Emeren Group from a “market perform” rating to an “under perform” rating and set a $1.50 price target on the stock. in a research report on Friday, May 24th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $3.00 price target on shares of Emeren Group in a research report on Wednesday, August 21st. Three analysts have rated the stock with a sell rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Emeren Group currently has a consensus rating of “Hold” and a consensus price target of $4.88.

Insider Transactions at Emeren Group

In related news, Chairman Shah Capital Management acquired 26,843 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of $1.83 per share, with a total value of $49,122.69. Following the completion of the transaction, the chairman now owns 18,655,151 shares of the company’s stock, valued at $34,138,926.33. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 18.02% 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.