Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Emeren Group Ltd ADR shares valued at $80,199 were purchased by SHAH CAPITAL MANAGEMENT on Sep 04 ’24. At $1.85 per share, SHAH CAPITAL MANAGEMENT acquired 43,351 shares. The insider’s holdings grew to 18,698,502 shares worth approximately $41.7 million following the completion of this transaction.
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Also, SHAH CAPITAL MANAGEMENT purchased 26,843 shares, netting a total of over 49,123 in proceeds. Following the buying of shares at $1.83 each, the insider now holds 18,655,151 shares.
Before that, SHAH CAPITAL MANAGEMENT had added 343,913 shares to its account. In a trade valued at $801,317, the Chairman bought Emeren Group Ltd ADR shares for $2.33 each. Upon closing the transaction, the insider’s holdings increased to 343,913 shares, worth approximately $41.57 million.
As published in a research note from Northland Capital on May 24, 2024, Emeren Group Ltd ADR [SOL] has been rated down from a Market perform to an Under perform. Analysts at Northland Capital downgraded the stock from ‘”an Outperform”‘ to ‘”a Market perform”‘ outlook in a report released in late November. As of September 13, 2022, Northland Capital has initiated its “an Outperform” rating for SOL. Earlier on January 05, 2022, ROTH Capital upgraded its rating. Their new recommendation was “a Buy” for SOL stock which previously was a “a Neutral”.
Analyzing SOL Stock Performance
During the last five days, there has been a drop of approximately -1.33%. Over the course of the year, Emeren Group Ltd ADR shares have dropped approximately -18.32%. Shares of the company reached a 52-week high of $2.77 on 01/02/24 and a 52-week low of $1.41 on 08/05/24. A 50-day SMA is recorded $1.83, while a 200-day SMA reached $1.96. Nevertheless, trading volume fell to 0.63 million shares from 0.26 million shares the previous day.
Support And Resistance Levels for Emeren Group Ltd ADR (SOL)
According to the 24-hour chart, there is a support level at 2.12, which, if violated, would cause prices to drop to 2.01. In the upper region, resistance lies at 2.34. The next price resistance is at 2.45. RSI (Relative Strength Index) is 61.52 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.17, which suggests the price will decrease in the coming days. Percent R is at 31.82%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
