SolarBank Co. (NASDAQ:SUUN) Short Interest Up 47.3% in May

SolarBank Co. (NASDAQ:SUUN) saw a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 179,700 shares, a growth of 47.3% from the May 15th total of 122,000 shares. Approximately 0.8% of the shares of the company are sold short. Based on an average trading volume of 249,700 shares, the days-to-cover ratio is currently 0.7 days.

Wall Street Analyst Weigh In

SUUN has been the subject of a number of research reports. HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of SolarBank in a research report on Tuesday, March 18th. Alliance Global Partners assumed coverage on SolarBank in a report on Wednesday, April 23rd. They issued a “buy” rating for the company.

Institutional Investors Weigh In On SolarBank

An institutional investor recently bought a new position in SolarBank stock. Baader Bank Aktiengesellschaft purchased a new stake in shares of SolarBank Co. (NASDAQ:SUUN) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 14,342 shares of the company’s stock, valued at approximately $35,000.

SolarBank Trading Up 31.4%

Shares of SUUN opened at $1.86 on Tuesday. SolarBank has a 1 year low of $1.23 and a 1 year high of $6.65. 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 stock has a 50 day simple moving average of $1.94 and a 200-day simple moving average of $2.67. The stock has a market cap of $65.75 million, a PE ratio of -8.45 and a beta of 0.83.

SolarBank (NASDAQ:SUUN) last issued its earnings results on Thursday, May 15th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.12). SolarBank had a negative return on equity of 15.19% and a negative net margin of 10.64%. The company had revenue of $6.27 million during the quarter, compared to analyst estimates of $20.50 million. On average, sell-side analysts predict that SolarBank will post -0.04 EPS for the current fiscal year.

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.