D Boral Capital Upgrades SolarBank (NASDAQ:SUUN) to Strong-Buy

SolarBank (NASDAQ:SUUN - Get Free Report) was upgraded by stock analysts at D Boral Capital to a "strong-buy" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on SUUN. D. Boral Capital assumed coverage on SolarBank in a research note on Tuesday. They issued a "buy" rating and a $4.00 price target for the company. HC Wainwright reiterated a "buy" rating and set a $6.00 price target on shares of SolarBank in a research note on Tuesday, March 18th. Finally, Alliance Global Partners began coverage on SolarBank in a research note on Wednesday, April 23rd. They set a "buy" rating for the company.

SolarBank Stock Performance

Shares of SolarBank stock traded down $0.03 on Tuesday, hitting $1.49. The stock had a trading volume of 51,828 shares, compared to its average volume of 159,694. The company has a quick ratio of 0.94, a current ratio of 1.13 and a debt-to-equity ratio of 0.98. The stock has a market cap of $53.00 million, a price-to-earnings ratio of -3.31 and a beta of 0.94. The business's 50 day moving average is $1.72 and its two-hundred day moving average is $2.59. SolarBank has a twelve month low of $1.23 and a twelve month high of $6.43.

SolarBank (NASDAQ:SUUN - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.12). The company 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 forecast that SolarBank will post -0.04 EPS for the current year.

Institutional Investors Weigh In On SolarBank

An institutional investor recently raised its position in SolarBank stock. Parallel Advisors LLC increased its stake in SolarBank Corporation (NASDAQ:SUUN - Free Report) by 57.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,422 shares of the company's stock after purchasing an additional 10,000 shares during the quarter. Parallel Advisors LLC owned approximately 0.08% of SolarBank worth $42,000 at the end of the most recent quarter.

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.