Short Interest in SolarBank Co. (NASDAQ:SUUN) Declines By 29.9%

SolarBank Co. (NASDAQ:SUUN) was the target of a significant decline in short interest in the month of January. As of January 15th, there was short interest totalling 29,300 shares, a decline of 29.9% from the December 31st total of 41,800 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily volume of 30,400 shares, the short-interest ratio is presently 1.0 days.

Analyst Ratings Changes

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

SolarBank Trading Up 1.1 %

SUUN traded up $0.03 during mid-day trading on Friday, hitting $2.72. The stock had a trading volume of 52,583 shares, compared to its average volume of 37,209. The stock’s fifty day simple moving average is $2.31 and its 200-day simple moving average is $3.48. The firm has a market capitalization of $84.56 million and a price-to-earnings ratio of -16.00. 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 current ratio of 0.91 and a quick ratio of 0.68.

Institutional Trading of SolarBank

A hedge fund recently raised its stake in SolarBank stock. Virtu Financial LLC grew its holdings in SolarBank Co. (NASDAQ:SUUN) by 91.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,075 shares of the company’s stock after acquiring an additional 11,051 shares during the quarter. 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.