SolarBank Co. (NASDAQ:SUUN) Short Interest Down 24.0% in February

SolarBank Co. (NASDAQ:SUUN - Get Free Report) was the target of a large decline in short interest in February. As of February 28th, there was short interest totalling 73,200 shares, a decline of 24.0% from the February 13th total of 96,300 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 175,900 shares, the days-to-cover ratio is currently 0.4 days.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a "buy" rating and issued a $6.00 target price on shares of SolarBank in a report on Tuesday.

SolarBank Trading Down 27.6 %

Shares of NASDAQ SUUN traded down $1.23 during midday trading on Friday, hitting $3.22. The stock had a trading volume of 653,775 shares, compared to its average volume of 85,947. The company's 50-day simple moving average is $3.69 and its 200 day simple moving average is $3.35. 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 firm has a market cap of $104.13 million and a P/E ratio of -14.64. SolarBank has a fifty-two week low of $1.95 and a fifty-two week high of $7.50.

SolarBank (NASDAQ:SUUN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The company had revenue of $2.93 million during 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%. Research analysts anticipate that SolarBank will post -0.04 EPS for the current year.

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Institutional Trading of SolarBank

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

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.