Emeren Group Ltd ADR [SOL] stock is trading at $2.22, up 2.30%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The SOL shares have gain 9.36% over the last week, with a monthly amount glided 18.72%, and seem to be holding up well over a long-time horizon.
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On 12, February 2024, Emeren Group’s Board of Directors Approves an Accelerated Stock Repurchase Program up to $10 million. In a post published today on Yahoo Finance, Emeren Group Ltd (“Emeren” or the “Company”) (www.emeren.com) (NYSE: SOL), a leading global solar project developer, owner, and operator, today announced that its Board of Directors has approved an accelerated stock repurchase (ASR) program of up to $10 million and could be completed by the end of March 2024. This ASR is incremental to the $11 million remaining authorization in Emeren’s buyback program at the end of Q3 2023.
From an analyst’s perspective:
Emeren Group Ltd ADR [NYSE: SOL] stock has seen the most recent analyst activity on November 22, 2023, when Northland Capital downgraded its rating to a Market Perform and also revised its price target to $3.20 from $6. Previously, Northland Capital started tracking the stock with Outperform rating on September 13, 2022, and set its price target to $8. On January 05, 2022, upgrade upgraded it’s rating to Buy and revised its price target to $10 on the stock. Raymond James upgraded its rating to a Strong Buy but stick to its price target of $12.50 on January 04, 2022. Raymond James initiated its recommendation with a Outperform and recommended $14.50 as its price target on March 09, 2021. Imperial Capital reiterated a Outperform rating for this stock on May 02, 2019, and upped its price target to $22. In a note dated October 16, 2017, ROTH Capital upgraded an Neutral rating on this stock.
Emeren Group Ltd ADR [SOL] stock has fluctuated between $1.54 and $4.70 over the past year. Currently, Wall Street analysts expect the stock to reach $10 within the next 12 months. Emeren Group Ltd ADR [NYSE: SOL] shares were valued at $2.22 at the most recent close of the market. An investor can expect a potential return of 350.45% based on the average SOL price forecast.
Analyzing the SOL fundamentals
Emeren Group Ltd ADR [NYSE:SOL] reported sales of 101.47M for the trailing twelve months, which represents a drop of -51.72%. Gross Profit Margin for this corporation currently stands at 0.31% with Operating Profit Margin at 0.03%, Pretax Profit Margin comes in at 0.04%, and Net Profit Margin reading is 0.03%. To continue investigating profitability, this company’s Return on Assets is posted at 0.01, Equity is 0.01 and Total Capital is 0.01. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.18.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 2.14 points at the first support level, and at 2.05 for the second support level. However, for the 1st resistance point, the stock is sitting at 2.31, and for the 2nd resistance point, it is at 2.39.
Emeren Group Ltd ADR [SOL] reported earnings per share of -$0.17 for its fiscal quarter that ended on 9/29/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.06/share, meaning a difference of -$0.23 and a surprise factor of -383.30%. By comparison, the stated earnings for the previous quarter ended on 6/29/2023 were $0.14 per share as compared to estimates of $0.1 per share, a difference of $0.04 representing a surprise of 40.00%.
Ratios To Look Out For
For context, Emeren Group Ltd ADR’s Current Ratio is 4.33. Further, the Quick Ratio stands at 4.33, while the Cash Ratio is 1.5. Considering the valuation of this stock, the price to sales ratio is 1.32, the price to book ratio is 0.42 and price to earnings (TTM) ratio is 40.96.
Transactions by insiders
Recent insider trading involved SHAH CAPITAL MANAGEMENT, Chairman, that happened on Dec 12 when 0.34 million shares were purchased. Chairman, SHAH CAPITAL MANAGEMENT completed a deal on Dec 11 to buy 0.25 million shares. Meanwhile, Chairman SHAH CAPITAL MANAGEMENT bought 0.15 million shares on Dec 05.
