SolarBank Co. (NASDAQ:SUUN) Short Interest Update

SolarBank Co. (NASDAQ:SUUN) was the target of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 168,600 shares, a growth 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 company’s shares are sold short.

SolarBank Stock Performance

SolarBank stock opened at $2.45 on Friday. SolarBank has a 52 week low of $1.95 and a 52 week high of $7.50. 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 stock has a market cap of $79.23 million and a P/E ratio of -11.14. The stock has a 50 day moving average of $3.77 and a 200-day moving average of $3.29.

SolarBank (NASDAQ:SUUN) last posted 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 company had revenue of $2.93 million for 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%. On average, analysts expect that SolarBank will post -0.04 EPS for the current fiscal year.

Institutional Trading of SolarBank

An institutional investor recently raised its position in SolarBank stock. Virtu Financial LLC grew its position in SolarBank Co. (NASDAQ:SUUN) by 91.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,075 shares of the company’s stock after acquiring an additional 11,051 shares during the quarter. Virtu Financial LLC owned approximately 0.07% of SolarBank worth $103,000 as of its most recent filing with the Securities and Exchange Commission.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective 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.