Short Interest in Pineapple Energy Inc. (NASDAQ:PEGY) Rises By 151.6%

Pineapple Energy Inc. (NASDAQ:PEGY) was the target of a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 1,260,000 shares, an increase of 151.6% from the June 30th total of 500,700 shares. Based on an average trading volume of 6,880,000 shares, the days-to-cover ratio is presently 0.2 days. Currently, 24.1% of the shares of the company are sold short.

Pineapple Energy Stock Performance

Shares of NASDAQ:PEGY traded down $0.01 on Friday, reaching $1.37. 589,964 shares of the company’s stock were exchanged, compared to its average volume of 6,456,947. The company has a fifty day moving average of $1.95 and a 200-day moving average of $2.21. Pineapple Energy has a twelve month low of $0.62 and a twelve month high of $20.10. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.49 and a current ratio of 0.63.

Pineapple Energy (NASDAQ:PEGY) last released its earnings results on Thursday, May 9th. The company reported ($3.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.00) by ($0.90). Pineapple Energy had a negative return on equity of 22.83% and a negative net margin of 6.18%. The company had revenue of $13.22 million for the quarter, compared to analyst estimates of $18.90 million. During the same period last year, the company posted ($3.90) earnings per share. As a group, analysts expect that Pineapple Energy will post -11.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pineapple Energy

A hedge fund recently bought a new stake in Pineapple Energy stock. Anson Funds Management LP acquired a new stake in shares of Pineapple Energy Inc. (NASDAQ:PEGY) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,200,000 shares of the company’s stock, valued at approximately $150,000. Anson Funds Management LP owned approximately 3.43% of Pineapple Energy at the end of the most recent reporting period. Hedge funds and other institutional investors own 4.21% of the company’s stock.

Pineapple Energy Company Profile

Pineapple Energy Inc engages in the sale, design, and installation of photovoltaic solar energy systems and battery storage systems in the United States. Its brand portfolio includes SUNation, Hawaii Energy Connection, E-Gear, Sungevity, and Horizon Solar Power. The company develops and manufactures energy management software and hardware, such as energy management control devices on solar systems that are paired with batteries.