SolarBank Co. (NASDAQ:SUUN) Sees Significant Growth in Short Interest

SolarBank Co. (NASDAQ:SUUN) was the recipient of a large increase in short interest in 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 daily volume of 31,000 shares, the days-to-cover ratio is currently 1.3 days. Approximately 0.2% of the shares of the company are short sold.

SolarBank Price Performance

Shares of SolarBank stock traded up $0.24 on Thursday, hitting $2.24. The company’s stock had a trading volume of 45,933 shares, compared to its average volume of 38,433. The company has a market capitalization of $69.62 million and a price-to-earnings ratio of -13.18. SolarBank has a 1 year low of $1.95 and a 1 year high of $7.50. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.68 and a current ratio of 0.91. The firm has a fifty day moving average price of $2.39 and a 200-day moving average price of $3.74.

Institutional Inflows and Outflows

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 third quarter, according to its most recent disclosure with the 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 about 0.07% of SolarBank worth $103,000 at the end of the most recent quarter.

Analyst Upgrades and Downgrades

Separately, HC Wainwright started 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 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.