SolarBank Co. (NASDAQ:SUUN) Short Interest Update

SolarBank Co. (NASDAQ:SUUN) was the recipient of a large decline in short interest in the month of January. As of January 15th, there was short interest totalling 29,300 shares, a decline of 29.9% from the December 31st total of 41,800 shares. Based on an average daily trading volume, of 30,400 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.1% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright initiated coverage on shares of SolarBank in a report on Wednesday, December 11th. They set a “buy” rating and a $6.00 price objective for the company.

SolarBank Price Performance

Shares of SUUN stock traded up $0.03 during trading hours on Friday, hitting $2.72. The company had a trading volume of 52,583 shares, compared to its average volume of 37,209. SolarBank has a 12 month low of $1.95 and a 12 month high of $7.50. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.68 and a current ratio of 0.91. The firm’s fifty day moving average is $2.31 and its 200 day moving average is $3.48. The firm has a market capitalization of $84.56 million and a price-to-earnings ratio of -16.00.

Institutional Trading of SolarBank

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

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.