SolarBank (NASDAQ:SUUN) Posts Earnings Results, Misses Estimates By $0.04 EPS

SolarBank (NASDAQ:SUUN - Get Free Report) released its quarterly earnings data on Wednesday. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.04), Zacks reports. The firm had revenue of $2.93 million during the quarter, compared to analyst estimates of $16.44 million. SolarBank had a negative return on equity of 13.89% and a negative net margin of 6.92%.

SolarBank Stock Performance

Shares of NASDAQ:SUUN traded down $0.57 on Tuesday, hitting $4.95. The company's stock had a trading volume of 223,662 shares, compared to its average volume of 228,072. The company has a market capitalization of $153.86 million and a price-to-earnings ratio of -29.71. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.68 and a current ratio of 0.91. SolarBank has a 12 month low of $1.95 and a 12 month high of $7.50. The stock's 50-day moving average is $2.79 and its two-hundred day moving average is $3.40.

Analysts Set New Price Targets

Separately, HC Wainwright began coverage on shares of SolarBank in a research note on Wednesday, December 11th. They issued a "buy" rating and a $6.00 price target on the stock.

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.