SolarBank Co. (NASDAQ:SUUN) Short Interest Update

SolarBank Co. (NASDAQ:SUUN) was the target of a large growth in short interest in 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. Approximately 0.8% of the shares of the company are short sold. Based on an average daily volume of 210,500 shares, the days-to-cover ratio is presently 0.8 days.

Hedge Funds Weigh In On SolarBank

An institutional investor recently raised its position in SolarBank stock. Virtu Financial LLC increased its stake in shares of SolarBank Co. (NASDAQ:SUUN) by 91.9% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 23,075 shares of the company’s stock after acquiring an additional 11,051 shares during the period. Virtu Financial LLC owned approximately 0.07% of SolarBank worth $103,000 at the end of the most recent reporting period.

Wall Street Analysts Forecast Growth

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

SolarBank Stock Performance

NASDAQ SUUN opened at $2.69 on Friday. 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 $86.82 million and a PE ratio of -12.20. The stock has a fifty day simple moving average of $3.77 and a 200-day simple moving average of $3.30. SolarBank has a twelve month low of $1.95 and a twelve month high of $7.50.

SolarBank (NASDAQ:SUUN) last posted its earnings results on Wednesday, February 19th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). SolarBank had a negative net margin of 10.64% and a negative return on equity of 15.19%. The company had revenue of $2.93 million during the quarter, compared to analysts’ expectations of $16.44 million. Equities analysts anticipate that SolarBank will post -0.04 earnings per share for the current year.

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.