Emeren Group (SOL) to Release Quarterly Earnings on Thursday

Emeren Group (NYSE:SOL) is scheduled to issue its quarterly earnings data after the market closes on Thursday, November 14th. Analysts expect the company to announce earnings of $0.09 per share for the quarter. Emeren Group has set its FY 2024 guidance at EPS and its Q3 2024 guidance at EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

Emeren Group (NYSE:SOL) last released its quarterly earnings data on Tuesday, August 20th. The semiconductor company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Emeren Group had a negative return on equity of 3.15% and a negative net margin of 20.91%. The business had revenue of $30.06 million during the quarter, compared to analyst estimates of $21.10 million. During the same quarter in the previous year, the company earned $0.14 EPS. On average, analysts expect Emeren Group to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Emeren Group Trading Down 16.3 %

NYSE SOL opened at $2.20 on Thursday. Emeren Group has a 1 year low of $1.41 and a 1 year high of $3.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.27 and a quick ratio of 4.27. The company has a market capitalization of $112.77 million, a PE ratio of -5.64 and a beta of 1.73. The company has a fifty day moving average of $2.39 and a 200 day moving average of $1.96.

Insider Activity at Emeren Group

In other Emeren Group news, Chairman Shah Capital Management acquired 26,843 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $1.83 per share, for a total transaction of $49,122.69. Following the completion of the transaction, the chairman now directly owns 18,655,151 shares of the company’s stock, valued at $34,138,926.33. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 37.31% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SOL has been the topic of a number of recent research reports. StockNews.com upgraded Emeren Group from a “sell” rating to a “hold” rating in a research note on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Emeren Group in a research note on Wednesday, August 21st. Finally, Roth Mkm reaffirmed a “buy” rating and set a $3.00 target price on shares of Emeren Group in a report on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $3.83.

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.