Pineapple Energy Inc. (NASDAQ:PEGY) Short Interest Update

Pineapple Energy Inc. (NASDAQ:PEGY) was the target of a large decline in short interest during the month of June. As of June 15th, there was short interest totalling 478,700 shares, a decline of 96.6% from the May 31st total of 14,170,000 shares. Based on an average trading volume of 4,980,000 shares, the short-interest ratio is presently 0.1 days. Approximately 6.8% of the shares of the stock are sold short.

Pineapple Energy Stock Performance

Shares of NASDAQ PEGY traded down $0.03 during trading on Thursday, reaching $1.14. The company had a trading volume of 434,614 shares, compared to its average volume of 2,814,410. The company’s fifty day moving average price is $1.66 and its 200-day moving average price is $3.36. The company has a current ratio of 0.63, a quick ratio of 0.49 and a debt-to-equity ratio of 0.50. Pineapple Energy has a 12 month low of $0.62 and a 12 month high of $21.45.

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 analysts’ consensus estimates of ($3.00) by ($0.90). Pineapple Energy had a negative net margin of 6.18% and a negative return on equity of 22.83%. The company had revenue of $13.22 million for the quarter, compared to analyst estimates of $18.90 million. During the same quarter in the previous year, the firm earned ($3.90) EPS. As a group, sell-side analysts predict that Pineapple Energy will post -11.39 earnings per share for the current year.

Institutional Investors Weigh In On Pineapple Energy

A hedge fund recently bought a new stake in Pineapple Energy stock. Anson Funds Management LP purchased a new stake in shares of Pineapple Energy Inc. (NASDAQ:PEGY) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,200,000 shares of the company’s stock, valued at approximately $150,000. Anson Funds Management LP owned about 3.43% of Pineapple Energy at the end of the most recent quarter. 4.21% of the stock is owned by hedge funds and other institutional investors.

About Pineapple Energy

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.