Emeren Group Ltd ADR’s filing revealed that its Chairman SHAH CAPITAL MANAGEMENT acquired Company’s shares for reported $80199.0 on Sep 04 ’24. In the deal valued at $1.85 per share,43,351 shares were bought. As a result of this transaction, SHAH CAPITAL MANAGEMENT now holds 18,698,502 shares worth roughly $ 39.08 million.
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Then, SHAH CAPITAL MANAGEMENT bought 26,843 shares, generating $49,123 in total proceeds. Upon buying the shares at $1.83, the Chairman now owns 18,655,151 shares.
Before that, SHAH CAPITAL MANAGEMENT bought 343,913 shares. Emeren Group Ltd ADR shares valued at $801,317 were divested by the Chairman at a price of $2.33 per share. As a result of the transaction, SHAH CAPITAL MANAGEMENT now holds 18,639,226 shares, worth roughly $38.96 million.
Northland Capital downgraded its Emeren Group Ltd ADR [SOL] rating to an Under perform from a a Market perform in a research note published recently. A number of analysts have revised their coverage, including Northland Capital’s analysts, who decreased its forecast for the stock in late November from “an Outperform” to “a Market perform”. Northland Capital began covering SOL with “an Outperform” recommendation on September 13, 2022. ROTH Capital revised its rating on January 05, 2022. It rated SOL as “a Buy” which previously was an “a Neutral”.
Price Performance Review of SOL
On Monday, Emeren Group Ltd ADR [NYSE:SOL] saw its stock jump 10.00% to $2.09. Over the last five days, the stock has gained 15.47%. Emeren Group Ltd ADR shares have fallen nearly -23.44% since the year began. Nevertheless, the stocks have fallen -33.86% over the past one year. While a 52-week high of $3.34 was reached on 01/02/24, a 52-week low of $1.41 was recorded on 08/05/24. SMA at 50 days reached $1.7100, while 200 days put it at $1.9700.
Levels Of Support And Resistance For SOL Stock
The 24-hour chart illustrates a support level at 1.9200, which if violated will result in even more drops to 1.7600. On the upside, there is a resistance level at 2.1800. A further resistance level may holdings at 2.2800. The Relative Strength Index (RSI) on the 14-day chart is 67.23, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.0400, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 3.78%. Stochastics %K at 81.54% indicates the stock is a selling.
How much short interest is there in Emeren Group Ltd ADR?
A steep rise in short interest was recorded in Emeren Group Ltd ADR stocks on 2024-08-15, growing by 13402.0 shares to a total of 1.64 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-15 was 1.63 million shares. There was a rise of 0.82%, which implies that there is a positive sentiment for the stock.
