Short Interest in SolarBank Co. (NASDAQ:SUUN) Declines By 15.2%

Posted by Terry King on Dec 29th, 2024

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

Analyst Upgrades and Downgrades

Separately, HC Wainwright began coverage on SolarBank in a report on Wednesday, December 11th. They issued a “buy” rating and a $6.00 target price on the stock.

Get Our Latest Stock Analysis on SUUN

Hedge Funds Weigh In On SolarBank

An institutional investor recently raised its position in SolarBank stock. Virtu Financial LLC lifted its position in shares of SolarBank Co. (NASDAQ:SUUN – Free Report) by 91.9% during the third quarter, according to 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 Stock Performance

Shares of NASDAQ:SUUN remained flat at $2.05 during midday trading on Friday. 11,700 shares of the stock traded hands, compared to its average volume of 33,679. SolarBank has a one year low of $2.00 and a one year high of $7.50. The stock has a market cap of $63.39 million and a P/E ratio of -12.06. The business’s 50 day moving average price is $2.73 and its 200 day moving average price is $4.10.

SolarBank (NASDAQ:SUUN – Get Free Report) last issued its quarterly earnings data on Monday, September 30th. The company reported ($0.25) EPS for the quarter. The firm had revenue of $5.83 million during the quarter. Analysts expect that SolarBank will post -0.04 EPS for the current fiscal year.

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.