SolarBank’s (SUUN) Buy Rating Reaffirmed at HC Wainwright

SolarBank (NASDAQ:SUUNGet Free Report)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $6.00 target price on the stock. HC Wainwright’s target price would indicate a potential upside of 33.33% from the stock’s current price.

SolarBank Stock Down 3.6 %

Shares of NASDAQ SUUN opened at $4.50 on Tuesday. The firm has a 50 day moving average price of $3.56 and a 200 day moving average price of $3.33. 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 cap of $145.52 million and a P/E ratio of -20.45. SolarBank has a 52-week low of $1.95 and a 52-week high of $7.50.

SolarBank (NASDAQ:SUUNGet Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The firm had revenue of $2.93 million during the quarter, compared to the consensus estimate of $16.44 million. SolarBank had a negative net margin of 10.64% and a negative return on equity of 15.19%. Analysts expect that SolarBank will post -0.04 EPS for the current year.

Hedge Funds Weigh In On SolarBank

An institutional investor recently raised its position in SolarBank stock. Virtu Financial LLC raised its stake in SolarBank Co. (NASDAQ:SUUNFree Report) by 91.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,075 shares of the company’s stock after buying an additional 11,051 shares during the quarter. Virtu Financial LLC owned about 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.

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