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

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

SolarBank Price Performance

Shares of NASDAQ SUUN traded down $0.57 during trading on Tuesday, hitting $4.95. 223,662 shares of the company were exchanged, compared to its average volume of 228,072. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.91 and a quick ratio of 0.68. SolarBank has a 1 year low of $1.95 and a 1 year high of $7.50. The company has a market cap of $153.86 million and a price-to-earnings ratio of -29.71. The firm's fifty day moving average price is $2.79 and its 200 day moving average price is $3.40.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright assumed coverage on SolarBank in a research report on Wednesday, December 11th. They set a "buy" rating and a $6.00 target price on the stock.

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.