SOL Stock Summary and Trading Ideas (Emeren Group American Depositary Shares Each Representing 10 Shares | NYSE:SOL)

Emeren Group Ltd is a leading global solar project developer, owner, and operator with a ~3 GW pipeline of projects and IPP assets across Europe, North America, and Asia. The company focuses on solar power project development, construction management, and project financing services with local professional teams in more than 10 countries.

Emeren Group American Depositary Shares Each Representing 10 Shares trades on the NYSE stock market under the symbol SOL.

As of April 23, 2024, SOL stock price climbed to $1.69 with 365,831 million shares trading.

SOL has a beta of 1.59, meaning it tends to be more sensitive to market movements. SOL has a correlation of 0.11 to the broad based SPY ETF.

SOL has a market cap of $100.69 million. This is considered a Micro Cap stock.

Last quarter Emeren Group American Depositary Shares Each Representing 10 Shares reported $44 million in Revenue and -$.15 earnings per share. This fell short of revenue expectation by $-980,000 and missed earnings estimates by -$.15.

In the last 3 years, SOL stock traded as high as $10.70 and as low as $1.54.

The top ETF exchange traded funds that SOL belongs to (by Net Assets): PBW, AVEM, SPEM, CTEX, EWX.

SOL has underperformed the market in the last year with a price return of -59.5% while the SPY ETF gained +24.3%. SOL has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -18.0% and -21.4%, respectively, while the SPY returned +4.9% and -2.5%, respectively.

SOL support price is $1.50 and resistance is $1.68 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that SOL stock will trade within this expected range on the day.