Short Interest in SolarBank Co. (NASDAQ:SUUN) Increases By 15.7%

SolarBank Co. (NASDAQ:SUUN - Get Free Report) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 33,900 shares, a growth of 15.7% from the January 15th total of 29,300 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average trading volume of 109,100 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in SolarBank stock. Virtu Financial LLC boosted its holdings in SolarBank Co. (NASDAQ:SUUN - Free Report) by 91.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,075 shares of the company's stock after purchasing an additional 11,051 shares during the quarter. Virtu Financial LLC owned approximately 0.07% of SolarBank worth $103,000 as of its most recent filing with the Securities and Exchange Commission.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright started coverage on SolarBank in a report on Wednesday, December 11th. They set a "buy" rating and a $6.00 price objective for the company.

SolarBank Price Performance

Shares of SolarBank stock traded down $0.54 during trading on Wednesday, hitting $4.03. 377,246 shares of the company were exchanged, compared to its average volume of 244,694. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $127.95 million and a price-to-earnings ratio of -18.14. SolarBank has a fifty-two week low of $1.95 and a fifty-two week high of $7.50. The firm has a 50 day moving average price of $2.79 and a 200 day moving average price of $3.40.

SolarBank (NASDAQ:SUUN - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported ($0.05) earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $16.44 million. On average, equities analysts expect that SolarBank will post -0.04 earnings per share for the current fiscal year.

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.