Q3 2024 EPS Estimates for Emeren Group Ltd Raised by Analyst (NYSE:SOL)

Emeren Group Ltd (NYSE:SOLFree Report) – Equities research analysts at HC Wainwright lifted their Q3 2024 earnings per share (EPS) estimates for shares of Emeren Group in a research report issued on Monday, April 1st. HC Wainwright analyst A. Dayal now expects that the semiconductor company will earn $0.15 per share for the quarter, up from their prior estimate of $0.09. HC Wainwright currently has a “Buy” rating and a $7.00 target price on the stock. The consensus estimate for Emeren Group’s current full-year earnings is $0.36 per share. HC Wainwright also issued estimates for Emeren Group’s Q4 2024 earnings at $0.20 EPS.

Separately, StockNews.com upgraded Emeren Group to a “sell” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $5.80.

View Our Latest Stock Analysis on SOL

Emeren Group Trading Up 1.3 %

Shares of NYSE SOL opened at $2.37 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.40 and a quick ratio of 5.40. The stock has a market capitalization of $142.72 million, a P/E ratio of -13.17 and a beta of 1.78. Emeren Group has a 1-year low of $1.54 and a 1-year high of $4.54. The business has a fifty day moving average price of $1.98 and a 200 day moving average price of $2.40.

Institutional Investors Weigh In On Emeren Group

Hedge funds have recently made changes to their positions in the stock. Alpine Global Management LLC purchased a new stake in Emeren Group in the third quarter valued at about $62,000. Quadrature Capital Ltd raised its stake in Emeren Group by 42.0% in the third quarter. Quadrature Capital Ltd now owns 59,685 shares of the semiconductor company’s stock valued at $184,000 after buying an additional 17,659 shares during the last quarter. Aigen Investment Management LP raised its stake in Emeren Group by 74.1% in the third quarter. Aigen Investment Management LP now owns 19,737 shares of the semiconductor company’s stock valued at $61,000 after buying an additional 8,401 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Emeren Group by 39.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 111,425 shares of the semiconductor company’s stock valued at $343,000 after buying an additional 31,660 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Emeren Group in the third quarter valued at about $36,000. 44.08% of the stock is currently owned by hedge funds and other institutional investors.

Emeren Group Company Profile

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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.

Further Reading

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