Q3 2024 Earnings Estimate for Emeren Group Ltd Issued By Northland Capmk (NYSE:SOL)

Emeren Group Ltd (NYSE:SOL) – Analysts at Northland Capmk boosted their Q3 2024 earnings estimates for Emeren Group in a research note issued on Friday, May 24th. Northland Capmk analyst D. Schafer now forecasts that the semiconductor company will post earnings of $0.12 per share for the quarter, up from their previous forecast of $0.10. Northland Capmk has a “Strong Sell” rating on the stock. The consensus estimate for Emeren Group’s current full-year earnings is $0.30 per share. Northland Capmk also issued estimates for Emeren Group’s Q4 2024 earnings at $0.08 EPS and FY2024 earnings at $0.16 EPS.

SOL has been the subject of several other research reports. StockNews.com raised shares of Emeren Group to a “sell” rating in a research report on Friday. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of Emeren Group in a research report on Friday. Finally, Northland Securities lowered Emeren Group from a “market perform” rating to an “under perform” rating and set a $1.50 price target on the stock. in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.38.

Emeren Group Stock Down 7.1 %

SOL opened at $1.95 on Monday. The business’s 50-day moving average price is $1.94 and its 200-day moving average price is $2.16. The company has a current ratio of 5.40, a quick ratio of 5.40 and a debt-to-equity ratio of 0.06. Emeren Group has a 12 month low of $1.54 and a 12 month high of $4.28. The company has a market cap of $117.43 million, a P/E ratio of -7.50 and a beta of 1.80.

Emeren Group (NYSE:SOL) last posted its quarterly earnings data on Thursday, March 28th. The semiconductor company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). Emeren Group had a negative return on equity of 0.88% and a negative net margin of 12.70%. The firm had revenue of $44.00 million during the quarter, compared to analysts’ expectations of $39.22 million.

Hedge Funds Weigh In On Emeren Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Emeren Group in the third quarter worth approximately $36,000. Janney Montgomery Scott LLC purchased a new stake in shares of Emeren Group in the third quarter worth about $44,000. Aigen Investment Management LP raised its position in Emeren Group by 74.1% during the third quarter. Aigen Investment Management LP now owns 19,737 shares of the semiconductor company’s stock valued at $61,000 after purchasing an additional 8,401 shares during the period. Alpine Global Management LLC purchased a new position in shares of Emeren Group during the 3rd quarter worth about $62,000. Finally, Quadrature Capital Ltd grew its position in Emeren Group by 42.0% in the 3rd quarter. Quadrature Capital Ltd now owns 59,685 shares of the semiconductor company’s stock valued at $184,000 after acquiring an additional 17,659 shares during the last quarter. Institutional investors own 44.08% of the company’s stock.

Emeren Group Company Profile

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.