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

SolarBank Co. (NASDAQ:SUUN - Get Free Report) was the recipient of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 168,600 shares, a growth of 130.3% from the February 28th total of 73,200 shares. Approximately 0.8% of the company's shares are short sold. Based on an average daily trading volume, of 210,500 shares, the short-interest ratio is presently 0.8 days.

SolarBank Stock Down 1.0 %

NASDAQ SUUN traded down $0.03 during trading hours on Tuesday, hitting $2.41. The company had a trading volume of 138,821 shares, compared to its average volume of 92,100. SolarBank has a fifty-two week low of $1.95 and a fifty-two week high of $7.50. The firm's 50 day moving average is $3.78 and its 200 day moving average is $3.27. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.91 and a quick ratio of 0.68. The company has a market capitalization of $77.77 million and a price-to-earnings ratio of -10.93.

SolarBank (NASDAQ:SUUN - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $2.93 million for the quarter, compared to analyst estimates of $16.44 million. Sell-side analysts anticipate that SolarBank will post -0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in SolarBank stock. Virtu Financial LLC boosted its position in SolarBank Co. (NASDAQ:SUUN - Free Report) by 91.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,075 shares of the company's stock after buying an additional 11,051 shares during the quarter. Virtu Financial LLC owned approximately 0.07% of SolarBank worth $103,000 at the end of the most recent quarter.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a "buy" rating and set a $6.00 price target on shares of SolarBank in a research report on Tuesday, March 18th.

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.