SolarBank Corporation (NASDAQ:SUUN) Short Interest Update

SolarBank Corporation (NASDAQ:SUUN - Get Free Report) saw a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 179,700 shares, a growth of 47.3% from the May 15th total of 122,000 shares. Based on an average daily volume of 249,700 shares, the short-interest ratio is currently 0.7 days. Approximately 0.8% of the company's stock are short sold.

Institutional Investors Weigh In On SolarBank

An institutional investor recently bought a new position in SolarBank stock. Baader Bank Aktiengesellschaft bought a new position in shares of SolarBank Corporation (NASDAQ:SUUN - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 14,342 shares of the company's stock, valued at approximately $35,000.

SolarBank Stock Up 2.8%

Shares of NASDAQ SUUN traded up $0.05 during trading hours on Thursday, hitting $1.82. The stock had a trading volume of 416,965 shares, compared to its average volume of 151,865. The company has a market capitalization of $64.34 million, a P/E ratio of -4.04 and a beta of 0.83. The firm's 50-day moving average price is $1.90 and its two-hundred day moving average price is $2.65. SolarBank has a 52 week low of $1.23 and a 52 week high of $6.65. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.94 and a current ratio of 1.13.

SolarBank (NASDAQ:SUUN - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.12). The firm had revenue of $6.27 million during the quarter, compared to the consensus estimate of $20.50 million. SolarBank had a negative net margin of 40.54% and a negative return on equity of 24.80%. Analysts anticipate that SolarBank will post -0.04 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SUUN. HC Wainwright reiterated a "buy" rating and issued a $6.00 target price on shares of SolarBank in a report on Tuesday, March 18th. Alliance Global Partners began coverage on SolarBank in a research note on Wednesday, April 23rd. They issued a "buy" rating for the company.

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.