Some Investing Thoughts On Emeren Group Ltd ADR (NYSE: SOL)

Emeren Group Ltd ADR (SOL) concluded trading on Thursday at a closing price of $1.93, with 0.45 million shares of worth about $0.87 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -36.30% during that period and on March 28, 2024 the price saw a loss of about -4.93%. Currently the company’s common shares owned by public are about 60.27M shares, out of which, 60.21M shares are available for trading.

Stock saw a price change of -1.53% in past 5 days and over the past one month there was a price change of -13.06%. Year-to-date (YTD), SOL shares are showing a performance of -29.30% which decreased to -53.83% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.54 but also hit the highest price of $4.54 during that period. The average intraday trading volume for Emeren Group Ltd ADR shares is 522.78K. The stock is currently trading -3.67% below its 20-day simple moving average (SMA20), while that difference is down -1.85% for SMA50 and it goes to -31.18% lower than SMA200.

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Emeren Group Ltd ADR (NYSE: SOL) currently have 60.27M outstanding shares and institutions hold larger chunk of about 44.15% of that.

The stock has a current market capitalization of $116.32M and its 3Y-monthly beta is at 1.78. PE ratio of stock for trailing 12 months is 35.61, while it has posted earnings per share of $0.05 in the same period. Its PEG reads 2.37 and has Quick Ratio of 4.33 while making debt-to-equity ratio of 0.18. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SOL, volatility over the week remained 5.80% while standing at 6.65% over the month.

Analysts are in expectations that Emeren Group Ltd ADR (SOL) stock would likely to be making an EPS of $0 in the current quarter, while forecast for next quarter EPS is $0.05 and it is $0.35 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.1 which is $0.09 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.05 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -122.32% while it is estimated to increase by 2128.57% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Northland Capital on November 22, 2023 offering a Market perform rating for the stock and assigned a target price range of between $6 and $3.20 to it. Coverage by Northland Capital stated Emeren Group Ltd ADR (SOL) stock as an Outperform in their note to investors on September 13, 2022, suggesting a price target of $8 for the stock. On January 05, 2022, ROTH Capital Upgrade their recommendations, while on January 04, 2022, Raymond James Upgrade their ratings for the stock with a price target of $12.50. Stock get an Outperform rating from Raymond James on March 09, 2021.

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