Emeren Group Ltd (NYSE:SOL – Get Free Report) Chairman Shah Capital Management bought 74,260 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were purchased at an average cost of $3.06 per share, for a total transaction of $227,235.60. Following the acquisition, the chairman now owns 16,856,102 shares of the company’s stock, valued at $51,579,672.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shah Capital Management also recently made the following trade(s):
- On Friday, September 15th, Shah Capital Management purchased 69,494 shares of Emeren Group stock. The stock was acquired at an average price of $3.08 per share, for a total transaction of $214,041.52.
- On Wednesday, September 13th, Shah Capital Management acquired 39,709 shares of Emeren Group stock. The stock was acquired at an average cost of $3.11 per share, for a total transaction of $123,494.99.
- On Friday, September 8th, Shah Capital Management acquired 79,299 shares of Emeren Group stock. The shares were bought at an average price of $3.14 per share, with a total value of $248,998.86.
- On Wednesday, September 6th, Shah Capital Management bought 34,493 shares of Emeren Group stock. The shares were bought at an average cost of $3.32 per share, for a total transaction of $114,516.76.
- On Friday, September 1st, Shah Capital Management bought 81,000 shares of Emeren Group stock. The stock was purchased at an average price of $3.20 per share, with a total value of $259,200.00.
- On Friday, June 23rd, Shah Capital Management purchased 32,577 shares of Emeren Group stock. The stock was purchased at an average price of $3.66 per share, with a total value of $119,231.82.
Emeren Group Stock Performance
Shares of NYSE SOL traded up $0.01 during trading hours on Tuesday, hitting $3.13. 49,030 shares of the company’s stock were exchanged, compared to its average volume of 430,480. The stock has a market capitalization of $188.49 million, a price-to-earnings ratio of 12.00 and a beta of 2.06. The company’s 50-day moving average price is $3.51 and its 200-day moving average price is $3.80. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.48 and a quick ratio of 5.48. Emeren Group Ltd has a 1-year low of $3.04 and a 1-year high of $6.03.
Institutional Inflows and Outflows
Analysts Set New Price Targets
Several research firms have weighed in on SOL. Northland Securities lowered their price objective on shares of Emeren Group from $9.50 to $6.00 and set an “outperform” rating on the stock in a research report on Friday, September 1st. Roth Mkm dropped their price target on Emeren Group from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, September 12th. StockNews.com lowered Emeren Group from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, HC Wainwright dropped their target price on Emeren Group from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $8.00.
About Emeren Group
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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