Pineapple Energy Inc. (NASDAQ:PEGY) Sees Large Increase in Short Interest

Pineapple Energy Inc. (NASDAQ:PEGY) was the target of a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 1,260,000 shares, an increase of 151.6% from the June 30th total of 500,700 shares. Based on an average daily volume of 6,880,000 shares, the days-to-cover ratio is presently 0.2 days. Approximately 24.1% of the shares of the stock are short sold.

Pineapple Energy Stock Up 0.4 %

Shares of PEGY traded up $0.01 during trading hours on Friday, hitting $1.39. The stock had a trading volume of 436,161 shares, compared to its average volume of 3,327,260. The company’s fifty day moving average is $1.95 and its two-hundred day moving average is $2.30. The company has a quick ratio of 0.49, a current ratio of 0.63 and a debt-to-equity ratio of 0.50. Pineapple Energy has a 52 week low of $0.62 and a 52 week high of $20.10.

Pineapple Energy (NASDAQ:PEGY) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($3.90) EPS for the quarter, missing analysts’ consensus estimates of ($3.00) by ($0.90). Pineapple Energy had a negative return on equity of 22.83% and a negative net margin of 6.18%. The company had revenue of $13.22 million for the quarter, compared to the consensus estimate of $18.90 million. During the same period in the prior year, the company earned ($3.90) EPS. On average, equities analysts anticipate that Pineapple Energy will post -11.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Pineapple Energy

A hedge fund recently bought a new stake in Pineapple Energy stock. Anson Funds Management LP acquired a new position in shares of Pineapple Energy Inc. (NASDAQ:PEGY) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,200,000 shares of the company’s stock, valued at approximately $150,000. Anson Funds Management LP owned about 3.43% of Pineapple Energy as of its most recent SEC filing. 4.21% of the stock is owned by institutional investors and hedge funds.

About Pineapple Energy

Pineapple Energy Inc engages in the sale, design, and installation of photovoltaic solar energy systems and battery storage systems in the United States. Its brand portfolio includes SUNation, Hawaii Energy Connection, E-Gear, Sungevity, and Horizon Solar Power. The company develops and manufactures energy management software and hardware, such as energy management control devices on solar systems that are paired with batteries.