SolarBank (NASDAQ:SUUN) Releases Quarterly Earnings Results, Misses Estimates By $0.04 EPS

SolarBank (NASDAQ:SUUN) issued its quarterly earnings data on Friday. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.04), Zacks reports. The company had revenue of $2.93 million during the quarter, compared to the consensus estimate of $11.64 million. SolarBank had a negative net margin of 6.92% and a negative return on equity of 13.89%.

SolarBank Stock Performance

Shares of SUUN traded down $0.27 during trading hours on Friday, hitting $5.52. The company had a trading volume of 263,865 shares, compared to its average volume of 133,421. The firm has a market cap of $171.62 million and a price-to-earnings ratio of -32.47. The business has a fifty day moving average of $2.67 and a 200-day moving average of $3.42. SolarBank has a 12 month low of $1.95 and a 12 month high of $7.50. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.92.

Analyst Upgrades and Downgrades

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