Short Interest in SolarBank Co. (NASDAQ:SUUN) Grows By 78.1%

SolarBank Co. (NASDAQ:SUUN - Get Free Report) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 300,200 shares, an increase of 78.1% from the March 15th total of 168,600 shares. Approximately 1.4% of the shares of the company are short sold. Based on an average trading volume of 245,600 shares, the short-interest ratio is presently 1.2 days.

SolarBank Stock Performance

SUUN traded up $0.02 on Friday, hitting $2.30. 68,876 shares of the company's stock were exchanged, compared to its average volume of 96,277. The firm has a market cap of $74.38 million and a PE ratio of -10.45. The stock has a fifty day moving average of $3.47 and a two-hundred day moving average of $3.10. SolarBank has a twelve month low of $1.95 and a twelve month high of $6.87. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.92.

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

Institutional Investors Weigh In On SolarBank

A hedge fund recently bought a new stake in SolarBank stock. Parallel Advisors LLC bought a new stake in SolarBank Co. (NASDAQ:SUUN - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 17,422 shares of the company's stock, valued at approximately $42,000. Parallel Advisors LLC owned 0.05% of SolarBank at the end of the most recent reporting period.

Analyst Ratings Changes

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

About SolarBank

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.