Short Interest in SolarBank Co. (NASDAQ:SUUN) Grows By 130.3%

SolarBank Co. (NASDAQ:SUUN) was the recipient of a significant increase in short interest in 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 presently 0.8 days. Currently, 0.8% of the shares of the company are sold short.

Institutional Investors Weigh In On SolarBank

A hedge fund recently raised its stake in SolarBank stock. Virtu Financial LLC boosted its position in shares of SolarBank Co. (NASDAQ:SUUN) by 91.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,075 shares of the company’s stock after purchasing an additional 11,051 shares during the period. Virtu Financial LLC owned about 0.07% of SolarBank worth $103,000 at the end of the most recent quarter.

Analyst Upgrades and Downgrades

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

SolarBank Stock Down 4.7 %

Shares of SUUN opened at $2.45 on Friday. 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 company has a 50-day moving average price of $3.77 and a two-hundred day moving average price of $3.29. The stock has a market cap of $79.23 million and a price-to-earnings ratio of -11.14. SolarBank has a 12 month low of $1.95 and a 12 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 the consensus estimate of ($0.01) by ($0.04). SolarBank had a negative return on equity of 15.19% and a negative net margin of 10.64%. The company had revenue of $2.93 million for the quarter, compared to the consensus estimate of $16.44 million. Equities analysts predict that SolarBank will post -0.04 EPS for the current fiscal 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.