SolarBank Co. (NASDAQ:SUUN) Short Interest Down 15.2% in December

Posted by James Quigley on Dec 31st, 2024

SolarBank Co. (NASDAQ:SUUN – Get Free Report) saw a significant decline in short interest during the month of December. As of December 15th, there was short interest totalling 25,700 shares, a decline of 15.2% from the November 30th total of 30,300 shares. Based on an average daily volume of 40,900 shares, the short-interest ratio is presently 0.6 days. Currently, 0.1% of the company’s stock are sold short.

SolarBank Trading Down 4.4 %

NASDAQ SUUN opened at $1.96 on Tuesday. SolarBank has a 12-month low of $1.95 and a 12-month high of $7.50. The firm’s fifty day simple moving average is $2.70 and its two-hundred day simple moving average is $4.06. The firm has a market capitalization of $60.61 million and a P/E ratio of -11.53.

SolarBank (NASDAQ:SUUN – Get Free Report) last announced its earnings results on Monday, September 30th. The company reported ($0.25) earnings per share (EPS) for the quarter. The company had revenue of $5.83 million during the quarter. As a group, sell-side analysts predict that SolarBank will post -0.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, HC Wainwright started coverage on shares of SolarBank in a report on Wednesday, December 11th. They issued a “buy” rating and a $6.00 price target on the stock.

Check Out Our Latest Report on SolarBank

Hedge Funds Weigh In On SolarBank

An institutional investor recently raised its position in SolarBank stock. Virtu Financial LLC boosted its stake in shares of SolarBank Co. (NASDAQ:SUUN – Free Report) by 91.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,075 shares of the company’s stock after purchasing an additional 11,051 shares during the period. Virtu Financial LLC owned approximately 0.07% of SolarBank worth $103,000 at the end of the most recent reporting period.

About SolarBank

(Get Free Report)

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.