Given A -131.63% Drop From High, Can Emeren Group Ltd ADR (NYSE: SOL) Quickly Recover?

ZM Stock

During the last session, Emeren Group Ltd ADR (NYSE:SOL)’s traded shares were 1.73 million, with the beta value of the company hitting 1.77. At the end of the trading day, the stock’s price was $1.96, reflecting an intraday loss of -16.95% or -$0.4. The 52-week high for the SOL share is $4.54, that puts it down -131.63 from that peak though still a striking 21.43% gain since the share price plummeted to a 52-week low of $1.54. The company’s market capitalization is $118.13M, and the average intraday trading volume over the past 10 days was 0.91 million shares, and the average trade volume was 566.22K shares over the past three months.

Emeren Group Ltd ADR (NYSE:SOL) trade information

Emeren Group Ltd ADR (SOL) registered a -16.95% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -16.95% in intraday trading to $1.96, hitting a weekly high. The stock’s 5-day price performance is 2.62%, and it has moved by -6.67% in 30 days. Based on these gigs, the overall price performance for the year is -55.96%. The short interest in Emeren Group Ltd ADR (NYSE:SOL) is 1.63 million shares and it means that shorts have 3.06 day(s) to cover.

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Emeren Group Ltd ADR (SOL) estimates and forecasts

Statistics show that Emeren Group Ltd ADR has outperformed its competitors in share price, compared to the industry in which it operates. Emeren Group Ltd ADR (SOL) shares have gone down -38.94% during the last six months, with a year-to-date growth rate more than the industry average at 1,800.00% against 3.60. In the rating firms’ projections, revenue will increase 40.80% compared to the previous financial year.

Revenue for the current quarter is expected to be $18.92 million as predicted by 4 analyst(s). Meanwhile, a consensus of 4 analyst(s) estimates revenue growth to $34.49 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $12.88 million and $39.1 million respectively. In this case, analysts expect current quarter sales to grow by 46.90% and then drop by -11.80% in the coming quarter.

While earnings are projected to return 334.38% in 2024, the next five years will return 15.00% per annum.

SOL Dividends

Emeren Group Ltd ADR is due to release its next quarterly earnings between March 26 and April 01. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

Emeren Group Ltd ADR insiders own 0.90% of total outstanding shares while institutional holders control 44.90%, with the float percentage being 45.31%. Shah Capital Management is the largest shareholder of the company, while 70 institutions own stock in it. As of Sep 29, 2023, the company held over 17.43 million shares (or 99.85% of all shares), a total value of $53.69 million in shares.

The next largest institutional holding, with 4.3 million shares, is of Invesco Ltd.’s that is approximately 24.61% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $16.29 million.

Also, the Mutual Funds coming in first place with the largest holdings of Emeren Group Ltd ADR (SOL) shares are Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and Invesco ETF TR II-Invesco Solar ETF. Data provided on Aug 30, 2023 indicates that Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF owns about 2.26 million shares. This amounts to just over 12.93 percent of the company’s overall shares, with a $7.84 million market value. The same data shows that the other fund manager holds slightly less at 1.52 million, or about 8.73% of the stock, which is worth about $5.29 million.