SolarBank Co. (NASDAQ:SUUN) Short Interest Down 15.2% in December

SolarBank Co. (NASDAQ:SUUN) was the recipient of a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 25,700 shares, a decrease of 15.2% from the November 30th total of 30,300 shares. Based on an average daily trading volume, of 40,900 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.1% of the company’s shares are sold short.

Institutional Inflows and Outflows

An institutional investor recently raised its position in SolarBank stock. Virtu Financial LLC lifted its position in shares of SolarBank Co. (NASDAQ:SUUN) by 91.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,075 shares of the company’s stock after buying an additional 11,051 shares during the quarter. Virtu Financial LLC owned approximately 0.07% of SolarBank worth $103,000 at the end of the most recent quarter.

SolarBank Trading Down 4.4 %

Shares of SUUN opened at $1.96 on Tuesday. The firm has a fifty day moving average price of $2.70 and a 200-day moving average price of $4.06. The firm has a market capitalization of $60.61 million and a P/E ratio of -11.53. SolarBank has a 12-month low of $1.95 and a 12-month high of $7.50.

SolarBank (NASDAQ:SUUN) last issued its earnings results on Monday, September 30th. The company reported ($0.25) EPS for the quarter. The firm had revenue of $5.83 million for the quarter. Analysts predict that SolarBank will post -0.04 earnings per share for the current year.

Analyst Ratings Changes

Separately, HC Wainwright began coverage on SolarBank in a research note on Wednesday, December 11th. They set a “buy” rating and a $6.00 price target for the company.

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.