Emeren Group (NYSE:SOL) Share Price Crosses Above 200 Day Moving Average – Here’s Why
by Tristan Rich · The Markets DailyEmeren Group Ltd. Sponsored ADR (NYSE:SOL – Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.87 and traded as high as $1.94. Emeren Group shares last traded at $1.9440, with a volume of 609,385 shares.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the company. Wall Street Zen raised Emeren Group from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. 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 one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Emeren Group has a consensus rating of “Hold” and an average price target of $4.50.
View Our Latest Stock Report on Emeren Group
Emeren Group Stock Up 0.7%
The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.28 and a current ratio of 4.28. The stock’s fifty day simple moving average is $1.86 and its two-hundred day simple moving average is $1.87. The stock has a market capitalization of $99.77 million, a P/E ratio of -10.80 and a beta of 1.07.
Institutional Trading of Emeren Group
Institutional investors and hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd bought a new stake in shares of Emeren Group in the 2nd quarter valued at about $44,000. Citadel Advisors LLC lifted its stake in shares of Emeren Group by 31.9% in the third quarter. Citadel Advisors LLC now owns 95,473 shares of the semiconductor company’s stock worth $180,000 after acquiring an additional 23,101 shares during the period. Jane Street Group LLC bought a new stake in Emeren Group in the second quarter valued at approximately $179,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in Emeren Group during the 2nd quarter valued at approximately $388,000. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in Emeren Group by 2.9% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 213,681 shares of the semiconductor company’s stock worth $404,000 after purchasing an additional 6,093 shares during the last quarter. 44.08% of the stock is currently owned by institutional investors and hedge funds.
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. 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, the company generates and sells electricity.