SolarBank Co. (NASDAQ:SUUN) Short Interest Update

SolarBank Co. (NASDAQ:SUUN) was the target of a large drop in short interest in February. As of February 28th, there was short interest totalling 73,200 shares, a drop of 24.0% from the February 13th total of 96,300 shares. Based on an average trading volume of 175,900 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.4% of the shares of the stock are short sold.

SolarBank Stock Performance

SUUN opened at $4.67 on Monday. The firm has a market cap of $151.01 million and a PE ratio of -21.23. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.92. The business has a fifty day simple moving average of $3.51 and a 200-day simple moving average of $3.33. SolarBank has a fifty-two week low of $1.95 and a fifty-two week high of $7.50.

SolarBank (NASDAQ:SUUN) last announced its earnings results on Wednesday, February 19th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The firm had revenue of $2.93 million for the quarter, compared to analyst estimates of $16.44 million. SolarBank had a negative net margin of 10.64% and a negative return on equity of 15.19%. As a group, equities analysts predict that SolarBank will post -0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On SolarBank

An institutional investor recently raised its position in SolarBank stock. Virtu Financial LLC lifted its stake in SolarBank Co. (NASDAQ:SUUN) by 91.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,075 shares of the company’s stock after purchasing an additional 11,051 shares during the quarter. Virtu Financial LLC owned 0.07% of SolarBank worth $103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Wall Street Analysts Forecast Growth

Separately, HC Wainwright began coverage on SolarBank in a research note on Wednesday, December 11th. They set a “buy” rating and a $6.00 price objective for the company.

SolarBank Company Profile

SolarBank Corporation operates as an independent renewable and clean energy project developer and asset operator in Canada and the United States. The company engages in the site origination, development, financing, engineering, procurement, construction, operation, maintenance, and asset management of solar photovoltaic power generation projects.