Invesco Ltd. Has $1.61 Million Stake in Emeren Group Ltd (NYSE:SOL)

Invesco Ltd. increased its holdings in Emeren Group Ltd (NYSE:SOL) by 26.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 792,148 shares of the semiconductor company’s stock after buying an additional 165,902 shares during the period. Invesco Ltd. owned 1.55% of Emeren Group worth $1,608,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Apollon Wealth Management LLC raised its holdings in Emeren Group by 45.5% in the 4th quarter. Apollon Wealth Management LLC now owns 29,100 shares of the semiconductor company’s stock valued at $59,000 after acquiring an additional 9,100 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Emeren Group in the fourth quarter valued at about $80,000. Monaco Asset Management SAM lifted its position in Emeren Group by 35.7% during the fourth quarter. Monaco Asset Management SAM now owns 1,847,764 shares of the semiconductor company’s stock worth $3,751,000 after purchasing an additional 486,063 shares during the period. Finally, Shah Capital Management grew its stake in Emeren Group by 0.4% during the fourth quarter. Shah Capital Management now owns 18,818,236 shares of the semiconductor company’s stock worth $38,201,000 after buying an additional 69,374 shares in the last quarter. 44.08% of the stock is currently owned by institutional investors.

Emeren Group Trading Up 5.1 %

NYSE SOL opened at $1.35 on Wednesday. Emeren Group Ltd has a twelve month low of $1.04 and a twelve month high of $3.00. The business’s fifty day moving average is $1.47 and its 200 day moving average is $1.84. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.10. The company has a market cap of $68.94 million, a price-to-earnings ratio of -10.35 and a beta of 1.75.

Emeren Group (NYSE:SOL) last released its quarterly earnings results on Thursday, March 13th. The semiconductor company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.31). Emeren Group had a negative return on equity of 2.05% and a negative net margin of 7.14%. The firm had revenue of $34.60 million for the quarter, compared to the consensus estimate of $40.13 million. During the same quarter last year, the firm posted ($0.15) earnings per share. As a group, sell-side analysts expect that Emeren Group Ltd will post 0.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SOL has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Emeren Group in a report on Friday, March 14th. StockNews.com cut Emeren Group from a “hold” rating to a “sell” rating in a research note on Friday, March 14th. Finally, Roth Mkm lowered their price target on Emeren Group from $3.00 to $2.00 and set a “buy” rating for the company in a report on Monday, March 17th. Four research analysts have rated the stock with a sell rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $4.13.

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.