Pineapple Energy Inc. (NASDAQ:PEGY) Sees Large Increase in Short Interest

Pineapple Energy Inc. (NASDAQ:PEGY) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 155,200 shares, a growth of 2,671.4% from the October 15th total of 5,600 shares. Approximately 12.0% of the company’s shares are short sold. Based on an average daily volume of 917,200 shares, the short-interest ratio is presently 0.2 days.

Institutional Trading of Pineapple Energy

A hedge fund recently bought a new stake in Pineapple Energy stock. Anson Funds Management LP purchased a new stake in shares of Pineapple Energy Inc. (NASDAQ:PEGY) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,200,000 shares of the company’s stock, valued at approximately $150,000. Anson Funds Management LP owned about 3.43% of Pineapple Energy as of its most recent SEC filing. 4.21% of the stock is currently owned by hedge funds and other institutional investors.

Pineapple Energy Stock Performance

Shares of NASDAQ:PEGY remained flat at $3.18 on Tuesday. 106,017 shares of the company’s stock were exchanged, compared to its average volume of 316,621. Pineapple Energy has a 52 week low of $2.85 and a 52 week high of $547.80. The business has a fifty day simple moving average of $8.74 and a 200-day simple moving average of $52.24.

Pineapple Energy (NASDAQ:PEGY) last posted its quarterly earnings results on Monday, August 19th. The company reported ($55.50) EPS for the quarter, topping the consensus estimate of ($135.00) by $79.50. The business had revenue of $13.55 million during the quarter, compared to analysts’ expectations of $20.90 million. Pineapple Energy had a negative net margin of 15.13% and a negative return on equity of 193.08%.

About Pineapple Energy

Pineapple Energy Inc engages in the sale, design, and installation of photovoltaic solar energy systems and battery storage systems in the United States. Its brand portfolio includes SUNation, Hawaii Energy Connection, E-Gear, Sungevity, and Horizon Solar Power. The company develops and manufactures energy management software and hardware, such as energy management control devices on solar systems that are paired with batteries.