SolarBank Co. (NASDAQ:SUUN) Short Interest Up 78.1% in March

SolarBank Co. (NASDAQ:SUUN) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totalling 300,200 shares, a growth of 78.1% from the March 15th total of 168,600 shares. Based on an average daily volume of 245,600 shares, the days-to-cover ratio is currently 1.2 days. Currently, 1.4% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $6.00 target price on shares of SolarBank in a research note on Tuesday, March 18th.

SolarBank Stock Up 0.9 %

SolarBank stock traded up $0.02 during trading hours on Friday, hitting $2.30. 68,876 shares of the stock traded hands, compared to its average volume of 95,967. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.92. The firm’s 50-day moving average price is $3.53 and its two-hundred day moving average price is $3.11. SolarBank has a one year low of $1.95 and a one year high of $6.87. The company has a market cap of $74.38 million and a PE ratio of -10.45.

SolarBank (NASDAQ:SUUN) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04). SolarBank had a negative net margin of 10.64% and a negative return on equity of 15.19%. The business had revenue of $2.93 million for the quarter, compared to analysts’ expectations of $16.44 million. On average, research analysts forecast that SolarBank will post -0.04 EPS for the current year.

Institutional Trading of SolarBank

A hedge fund recently bought a new stake in SolarBank stock. Parallel Advisors LLC bought a new stake in SolarBank Co. (NASDAQ:SUUN) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 17,422 shares of the company’s stock, valued at approximately $42,000. Parallel Advisors LLC owned approximately 0.05% of SolarBank as of its most recent filing with the Securities & Exchange Commission.

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.