Pineapple Energy (NASDAQ:PEGY) Stock to Reverse Split on Thursday, October 17th

Shares of Pineapple Energy Inc. (NASDAQ:PEGY) are scheduled to reverse split before the market opens on Thursday, October 17th. The 1-50 reverse split was announced on Tuesday, October 15th. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, October 16th.

Pineapple Energy Price Performance

PEGY stock traded down $0.02 during trading on Tuesday, hitting $0.10. 19,066,266 shares of the company’s stock were exchanged, compared to its average volume of 5,756,143. Pineapple Energy has a 52-week low of $0.10 and a 52-week high of $14.70. The business has a 50-day moving average price of $0.50 and a two-hundred day moving average price of $1.15.

Pineapple Energy (NASDAQ:PEGY) last issued its quarterly earnings data on Monday, August 19th. The company reported ($1.11) earnings per share for the quarter, topping the consensus estimate of ($2.70) by $1.59. The business had revenue of $13.55 million during the quarter, compared to the consensus estimate of $20.90 million. Pineapple Energy had a negative net margin of 15.13% and a negative return on equity of 193.08%.

Hedge Funds Weigh In On Pineapple Energy

An institutional investor recently bought a new position in Pineapple Energy stock. Ground Swell Capital LLC acquired a new stake in Pineapple Energy Inc. (NASDAQ:PEGY) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 34,894 shares of the company’s stock, valued at approximately $47,000. Ground Swell Capital LLC owned about 0.48% of Pineapple Energy at the end of the most recent quarter. Institutional investors and hedge funds own 4.21% of the company’s stock.

Pineapple Energy Company Profile

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.