SolarBank Co. (NASDAQ:SUUN) Short Interest Update

SolarBank Co. (NASDAQ:SUUN) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 168,600 shares, an increase of 130.3% from the February 28th total of 73,200 shares. Based on an average daily volume of 210,500 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.8% of the shares of the stock are short sold.

Institutional Trading of SolarBank

An institutional investor recently raised its position in SolarBank stock. Virtu Financial LLC boosted its position in SolarBank Co. (NASDAQ:SUUN) by 91.9% in the 3rd quarter, according to 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 quarter. Virtu Financial LLC owned about 0.07% of SolarBank worth $103,000 as of its most recent filing with the Securities and Exchange Commission.

SolarBank Stock Performance

NASDAQ:SUUN opened at $2.45 on Friday. SolarBank has a twelve month low of $1.95 and a twelve month high of $7.50. The company has a market capitalization of $79.23 million and a P/E ratio of -11.14. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.92. The firm has a 50-day moving average price of $3.77 and a two-hundred day moving average price of $3.29.

SolarBank (NASDAQ:SUUN) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The business had revenue of $2.93 million for the quarter, compared to analysts’ expectations of $16.44 million. SolarBank had a negative return on equity of 15.19% and a negative net margin of 10.64%. As a group, research analysts expect that SolarBank will post -0.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and issued a $6.00 target price on shares of SolarBank in a report on Tuesday, March 18th.

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.