SolarBank Co. (NASDAQ:SUUN) Short Interest Update

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

SolarBank Stock Performance

Shares of SolarBank stock traded down $0.04 on Friday, hitting $2.21. 5,800 shares of the company’s stock were exchanged, compared to its average volume of 35,406. SolarBank has a 1 year low of $1.95 and a 1 year high of $7.50. The company has a 50-day simple moving average of $2.38 and a 200-day simple moving average of $3.73. 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 stock has a market capitalization of $68.53 million and a PE ratio of -12.97.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On SolarBank

An institutional investor recently raised its position in SolarBank stock. Virtu Financial LLC grew its stake in SolarBank Co. (NASDAQ:SUUN) by 91.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,075 shares of the company’s stock after buying an additional 11,051 shares during the quarter. Virtu Financial LLC owned approximately 0.07% of SolarBank worth $103,000 as of its most recent SEC filing.

About SolarBank

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.