Roth Capital Equities Analysts Reduce Earnings Estimates for Emeren Group Ltd (NYSE:SOL)

Emeren Group Ltd (NYSE:SOLFree Report) – Equities research analysts at Roth Capital reduced their Q1 2024 earnings per share estimates for Emeren Group in a report issued on Sunday, March 31st. Roth Capital analyst P. Shen now anticipates that the semiconductor company will post earnings of $0.03 per share for the quarter, down from their prior estimate of $0.08. The consensus estimate for Emeren Group’s current full-year earnings is $0.36 per share. Roth Capital also issued estimates for Emeren Group’s Q2 2024 earnings at $0.12 EPS, Q3 2024 earnings at $0.11 EPS, Q3 2025 earnings at $0.20 EPS and Q4 2025 earnings at $0.20 EPS.

SOL has been the topic of a number of other research reports. StockNews.com raised Emeren Group to a “sell” rating in a report on Monday. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Emeren Group in a report on Monday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $5.80.

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Emeren Group Trading Up 1.3 %

NYSE:SOL opened at $2.37 on Tuesday. The firm has a market cap of $142.72 million, a P/E ratio of -13.17 and a beta of 1.78. The company has a current ratio of 5.40, a quick ratio of 5.40 and a debt-to-equity ratio of 0.06. The stock’s 50 day simple moving average is $1.98 and its 200-day simple moving average is $2.40. Emeren Group has a 12-month low of $1.54 and a 12-month high of $4.54.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Schonfeld Strategic Advisors LLC acquired a new position in Emeren Group during the second quarter worth $41,000. Alliancebernstein L.P. purchased a new position in shares of Emeren Group in the third quarter valued at $55,000. Envestnet Asset Management Inc. purchased a new position in shares of Emeren Group in the first quarter valued at $64,000. Verition Fund Management LLC purchased a new position in shares of Emeren Group in the first quarter valued at $67,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Emeren Group in the third quarter valued at $36,000. Institutional investors and hedge funds own 44.08% of the company’s stock.

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.

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