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

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

Analysts Set New Price Targets

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

SolarBank Stock Performance

SUUN stock opened at $2.05 on Monday. SolarBank has a fifty-two week low of $2.00 and a fifty-two week high of $7.50. The company has a market capitalization of $63.39 million and a price-to-earnings ratio of -12.06. The business’s 50 day moving average price is $2.73 and its two-hundred day moving average price is $4.09.

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

Institutional Trading of SolarBank

An institutional investor recently raised its position in SolarBank stock. Virtu Financial LLC boosted its holdings in shares of SolarBank Co. (NASDAQ:SUUN) by 91.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 reporting period.

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.