SolarBank Co. (NASDAQ:SUUN) Short Interest Update

SolarBank Co. (NASDAQ:SUUN) was the recipient of a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 25,700 shares, a drop of 15.2% from the November 30th total of 30,300 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average trading volume of 40,900 shares, the short-interest ratio is currently 0.6 days.

Hedge Funds Weigh In On SolarBank

A hedge fund recently raised its stake in SolarBank stock. Virtu Financial LLC grew its stake in shares of SolarBank Co. (NASDAQ:SUUN) by 91.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,075 shares of the company’s stock after purchasing an additional 11,051 shares during the period. Virtu Financial LLC owned approximately 0.07% of SolarBank worth $103,000 as of its most recent filing with the Securities and Exchange Commission.

SolarBank Price Performance

Shares of SUUN remained flat at $2.05 during mid-day trading on Friday. The stock had a trading volume of 11,700 shares, compared to its average volume of 33,679. The stock has a 50 day simple moving average of $2.73 and a 200 day simple moving average of $4.10. The company has a market capitalization of $63.39 million and a PE ratio of -12.06. SolarBank has a 52 week low of $2.00 and a 52 week high of $7.50.

SolarBank (NASDAQ:SUUN) last released its quarterly earnings results on Monday, September 30th. The company reported ($0.25) earnings per share (EPS) for the quarter. The business had revenue of $5.83 million for the quarter. Equities research analysts predict that SolarBank will post -0.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright began coverage on shares of SolarBank in a research note on Wednesday, December 11th. They issued a “buy” rating and a $6.00 price objective on the stock.

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.