Short Interest in SolarBank Co. (NASDAQ:SUUN) Decreases By 24.0%

SolarBank Co. (NASDAQ:SUUN) was the target of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 73,200 shares, a decrease of 24.0% from the February 13th total of 96,300 shares. Based on an average trading volume of 175,900 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.4% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

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

SolarBank Trading Down 5.1 %

Shares of NASDAQ SUUN opened at $4.67 on Monday. The business has a 50 day simple moving average of $3.51 and a 200 day simple moving average of $3.33. SolarBank has a 52 week low of $1.95 and a 52 week high of $7.50. The stock has a market cap of $151.01 million and a price-to-earnings ratio of -21.23. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.68 and a current ratio of 0.91.

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). The business had revenue of $2.93 million during the quarter, compared to the consensus estimate of $16.44 million. SolarBank had a negative return on equity of 15.19% and a negative net margin of 10.64%. On average, research analysts predict that SolarBank will post -0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SolarBank

A hedge fund recently raised its stake in SolarBank stock. Virtu Financial LLC increased its stake in shares of SolarBank Co. (NASDAQ:SUUN) by 91.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 23,075 shares of the company’s stock after acquiring an additional 11,051 shares during the period. Virtu Financial LLC owned 0.07% of SolarBank worth $103,000 as of its most recent filing with the SEC.

About SolarBank

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.