Quadrature Capital Ltd raised its holdings in Emeren Group Ltd (NYSE:SOL – Get Rating) by 367.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,556 shares of the semiconductor company’s stock after purchasing an additional 37,384 shares during the period. Quadrature Capital Ltd owned about 0.07% of Emeren Group worth $240,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in SOL. Envestnet Asset Management Inc. acquired a new position in shares of Emeren Group in the 1st quarter valued at approximately $64,000. Raymond James & Associates raised its position in shares of Emeren Group by 33.8% in the 1st quarter. Raymond James & Associates now owns 23,289 shares of the semiconductor company’s stock valued at $135,000 after purchasing an additional 5,885 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Emeren Group by 17.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 18,634 shares of the semiconductor company’s stock valued at $108,000 after purchasing an additional 2,769 shares in the last quarter. Ergoteles LLC acquired a new stake in shares of Emeren Group during the 1st quarter valued at approximately $229,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Emeren Group during the 1st quarter valued at approximately $67,000.
Insider Buying and Selling
In related news, CFO Shah Capital Management acquired 92,090 shares of the stock in a transaction that occurred on Wednesday, December 28th. The stock was purchased at an average cost of $4.11 per share, for a total transaction of $378,489.90. Following the purchase, the chief financial officer now directly owns 14,015,003 shares in the company, valued at $57,601,662.33. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 18.02% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on SOL shares. Northland Securities upped their price target on Emeren Group from $8.00 to $9.50 in a research report on Monday, December 5th. StockNews.com raised Emeren Group from a “sell” rating to a “hold” rating in a research report on Thursday, December 8th. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Emeren Group has an average rating of “Buy” and an average target price of $10.17.
Emeren Group Price Performance
Shares of SOL opened at $4.23 on Tuesday. The company has a market cap of $254.73 million, a P/E ratio of -423.00 and a beta of 2.00. The stock has a fifty day moving average price of $4.86 and a 200 day moving average price of $4.88. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.23 and a quick ratio of 6.23. Emeren Group Ltd has a 12 month low of $3.46 and a 12 month high of $7.50.
Emeren Group Company Profile
Emeren Group Ltd. is a pure solar project developer and operator. The firm is focused on solar power project development, construction management, and project financing services. Its projects include U.S. RP-MN portfolio, Siedliska, Membury, Field House, Zhejiang, and Jiangsu. The company was founded in 2005 and is headquartered in Stamford, CT.