The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Emeren Group Ltd ADR shares valued at $81,511 were purchased by SHAH CAPITAL MANAGEMENT on Sep 20 ’24. At $2.26 per share, SHAH CAPITAL MANAGEMENT acquired 36,083 shares. The insider’s holdings grew to 18,748,862 shares worth approximately $41.25 million following the completion of this transaction.
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Also, SHAH CAPITAL MANAGEMENT purchased 14,277 shares, netting a total of over 30,767 in proceeds. Following the buying of shares at $2.15 each, the insider now holds 18,712,779 shares.
Before that, SHAH CAPITAL MANAGEMENT had added 43,351 shares to its account. In a trade valued at $80,199, the Chairman bought Emeren Group Ltd ADR shares for $1.85 each. Upon closing the transaction, the insider’s holdings increased to 43,351 shares, worth approximately $41.14 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 -10.93%. Over the course of the year, Emeren Group Ltd ADR shares have dropped approximately -19.41%. Shares of the company reached a 52-week high of $3.00 on 10/07/24 and a 52-week low of $1.41 on 08/05/24. A 50-day SMA is recorded $2.39, while a 200-day SMA reached $1.97. Nevertheless, trading volume fell to 0.84 million shares from 0.14 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 1.98, which, if violated, would cause prices to drop to 1.76. In the upper region, resistance lies at 2.44. The next price resistance is at 2.68. RSI (Relative Strength Index) is 39.78 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.04, which suggests the price will decrease in the coming days. Percent R is at 70.50%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
