SolarBank Co. (NASDAQ:SUUN) Sees Significant Increase in Short Interest

Posted by Stuart Ham on Jan 17th, 2025

SolarBank Co. (NASDAQ:SUUN – Get Free Report) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 41,800 shares, an increase of 62.6% from the December 15th total of 25,700 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average daily volume of 31,000 shares, the short-interest ratio is presently 1.3 days.

Institutional Investors Weigh In On SolarBank

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

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Stock Report on SolarBank

SolarBank Stock Performance

SUUN traded up $0.24 during trading on Thursday, reaching $2.24. 45,933 shares of the company’s stock were exchanged, compared to its average volume of 38,433. The company’s fifty day simple moving average is $2.39 and its 200-day simple moving average is $3.74. The stock has a market capitalization of $69.62 million and a P/E ratio of -13.18. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.91 and a quick ratio of 0.68. SolarBank has a 1 year low of $1.95 and a 1 year high of $7.50.

SolarBank Company Profile

(Get Free Report)

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.