Short Interest in SolarBank Co. (NASDAQ:SUUN) Increases By 62.6%

Posted by Lauren Steadman on Jan 17th, 2025

SolarBank Co. (NASDAQ:SUUN – Get Free Report) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 41,800 shares, an increase of 62.6% from the December 15th total of 25,700 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average trading volume of 31,000 shares, the short-interest ratio is presently 1.3 days.

Wall Street Analyst Weigh In

Separately, HC Wainwright started coverage on SolarBank in a research note on Wednesday, December 11th. They set a “buy” rating and a $6.00 target price on the stock.

View Our Latest Report on SUUN

SolarBank Price Performance

Shares of SolarBank stock traded down $0.04 on Friday, hitting $2.21. 5,800 shares of the company traded hands, compared to its average volume of 35,406. SolarBank has a 52 week low of $1.95 and a 52 week high of $7.50. The business has a 50-day simple moving average of $2.38 and a 200 day simple moving average of $3.73. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.68 and a current ratio of 0.91. The stock has a market capitalization of $68.53 million and a P/E ratio of -12.97.

Hedge Funds Weigh In On SolarBank

A hedge fund recently raised its stake in SolarBank stock. Virtu Financial LLC boosted its position in shares of SolarBank Co. (NASDAQ:SUUN – Free Report) by 91.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,075 shares of the company’s stock after buying an additional 11,051 shares during the period. Virtu Financial LLC owned approximately 0.07% of SolarBank worth $103,000 as of its most recent SEC filing.

SolarBank Company Profile

(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.