Buy, Sell Or Hold Emeren Group Ltd ADR (NYSE:SOL) At $1.78?

In last trading session, Emeren Group Ltd ADR (NYSE:SOL) saw 0.6 million shares changing hands with its beta currently measuring 1.73. Company’s recent per share price level of $1.78 trading at $0.13 or 7.88% at ring of the bell on the day assigns it a market valuation of $107.28M. That closing price of SOL’s stock is at a discount of -184.27% from its 52-week high price of $5.06 and is indicating a premium of 13.48% from its 52-week low price of $1.54. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.45 million shares which gives us an average trading volume of 550.16K if we extend that period to 3-months.

Emeren Group Ltd ADR (NYSE:SOL) trade information

Upright in the green during last session for gaining 7.88%, in the last five days SOL remained trading in the green while hitting it’s week-highest on Friday, 02/09/24 when the stock touched $1.78 price level, adding 2.2% to its value on the day. Emeren Group Ltd ADR’s shares saw a change of -34.80% in year-to-date performance and have moved 6.59% in past 5-day. Emeren Group Ltd ADR (NYSE:SOL) showed a performance of -24.26% in past 30-days. Number of shares sold short was 1.19 million shares which calculate 1.5 days to cover the short interests.

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Emeren Group Ltd ADR (SOL) estimates and forecasts

Statistics highlight that Emeren Group Ltd ADR is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -46.87% of value to its shares in past 6 months, showing an annual growth rate of -137.50% while that of industry is 8.80. Apart from that, the company came lowering its revenue forecast for fiscal year 2024.

In 2024, company’s earnings growth rate is likely to be around -122.32% while estimates for its earnings growth in next 5 years are of 15.00%.

SOL Dividends

Emeren Group Ltd ADR is more likely to be releasing its next quarterly report between March 26 and April 01 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Emeren Group Ltd ADR (NYSE:SOL)’s Major holders

Insiders are in possession of 0.90% of company’s total shares while institution are holding 48.26 percent of that, with stock having share float percentage of 48.70%. Investors also watch the number of corporate investors in a company very closely, which is 48.26% institutions for Emeren Group Ltd ADR that are currently holding shares of the company. Shah Capital Management is the top institutional holder at SOL for having 17.43 million shares of worth $53.69 million. And as of Sep 29, 2023, it was holding 99.85% of the company’s outstanding shares.

The second largest institutional holder is Invesco Ltd., which was holding about 4.3 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 24.61% of outstanding shares, having a total worth of $16.29 million.

On the other hand, Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and Invesco ETF TR II-Invesco Solar ETF are the top two Mutual Funds which own company’s shares. As of Aug 30, 2023, the former fund manager was holding 2.26 million shares of worth $7.84 million or 12.93% of the total outstanding shares. The later fund manager was in possession of 1.52 million shares on Aug 30, 2023, making its stake of worth around $5.29 million in the company or a holder of 8.73% of company’s stock.

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