SolarBank (NASDAQ:SUUN) Now Covered by Analysts at HC Wainwright

Equities research analysts at HC Wainwright started coverage on shares of SolarBank (NASDAQ:SUUN) in a research report issued on Wednesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $6.00 price target on the stock. HC Wainwright’s price objective points to a potential upside of 167.86% from the company’s previous close.

SolarBank Stock Performance

Shares of SUUN stock opened at $2.24 on Wednesday. SolarBank has a 52 week low of $2.06 and a 52 week high of $7.50. The firm’s 50-day simple moving average is $3.12 and its two-hundred day simple moving average is $4.40. The firm has a market cap of $69.27 million and a price-to-earnings ratio of -13.18.

SolarBank (NASDAQ:SUUN) last posted its quarterly earnings data on Monday, September 30th. The company reported ($0.25) earnings per share for the quarter. The company had revenue of $5.83 million for the quarter.

Hedge Funds Weigh In On SolarBank

An institutional investor recently raised its position in SolarBank stock. Virtu Financial LLC boosted its stake in shares of SolarBank Co. (NASDAQ:SUUN) by 91.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,075 shares of the company’s stock after acquiring an additional 11,051 shares during the period. Virtu Financial LLC owned 0.07% of SolarBank worth $103,000 at the end of the most recent quarter.

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.