SolarBank Co. (NASDAQ:SUUN) Short Interest Up 62.6% in December

SolarBank Co. (NASDAQ:SUUN) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 41,800 shares, an increase of 62.6% from the December 15th total of 25,700 shares. Based on an average trading volume of 31,000 shares, the short-interest ratio is presently 1.3 days. Currently, 0.2% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright assumed coverage on shares of SolarBank in a report on Wednesday, December 11th. They issued a “buy” rating and a $6.00 price objective for the company.

SolarBank Trading Up 12.0 %

Shares of SUUN stock traded up $0.24 during trading on Thursday, hitting $2.24. 45,933 shares of the stock traded hands, compared to its average volume of 38,433. SolarBank has a 52-week low of $1.95 and a 52-week high of $7.50. The firm has a market capitalization of $69.62 million and a P/E ratio of -13.18. The firm’s fifty day moving average price is $2.39 and its 200-day moving average price is $3.74. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.91 and a quick ratio of 0.68.

Hedge Funds Weigh In On SolarBank

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

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.