SolarBank Co. (NASDAQ:SUUN) Short Interest Update

SolarBank Co. (NASDAQ:SUUN) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 300,200 shares, an increase of 78.1% from the March 15th total of 168,600 shares. Based on an average trading volume of 245,600 shares, the short-interest ratio is presently 1.2 days. Approximately 1.4% of the shares of the company are sold short.

SolarBank Stock Performance

Shares of SUUN stock opened at $2.28 on Thursday. The stock’s 50-day moving average price is $3.62 and its 200 day moving average price is $3.13. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $73.73 million and a PE ratio of -10.36. SolarBank has a 52-week low of $1.95 and a 52-week high of $6.87.

SolarBank (NASDAQ:SUUN) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The company 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, equities research analysts forecast that SolarBank will post -0.04 EPS for the current year.

Institutional Trading of SolarBank

A hedge fund recently bought a new stake in SolarBank stock. Parallel Advisors LLC purchased a new position in shares of SolarBank Co. (NASDAQ:SUUN) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,422 shares of the company’s stock, valued at approximately $42,000. Parallel Advisors LLC owned approximately 0.05% of SolarBank as of its most recent SEC filing.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and issued a $6.00 price target on shares of SolarBank in a research 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.