SUNation Energy (NASDAQ:SUNE) Stock Price Down 5.7% – What’s Next?

Shares of SUNation Energy Inc. (NASDAQ:SUNE) were down 5.7% during mid-day trading on Thursday . The stock traded as low as $2.42 and last traded at $2.47. 90,708 shares changed hands during trading, a decline of 98% from the average session volume of 5,648,921 shares. The stock had previously closed at $2.62.

Wall Street Analysts Forecast Growth

SUNE has been the subject of several research analyst reports. Wall Street Zen lowered SUNation Energy from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. Weiss Ratings lowered SUNation Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, SUNation Energy currently has a consensus rating of “Sell”.

SUNation Energy Stock Performance

The stock has a market cap of $10.18 million, a price-to-earnings ratio of -0.93 and a beta of 2.15. The company’s 50-day simple moving average is $2.44 and its 200-day simple moving average is $1.83. The company has a quick ratio of 0.49, a current ratio of 0.72 and a debt-to-equity ratio of 0.15.

SUNation Energy (NASDAQ:SUNE) last announced its quarterly earnings data on Friday, May 15th. The company reported ($1.20) EPS for the quarter. The company had revenue of $7.19 million for the quarter. SUNation Energy had a negative net margin of 17.28% and a negative return on equity of 51.96%.

Hedge Funds Weigh In On SUNation Energy

An institutional investor recently bought a new position in SUNation Energy stock. Renaissance Technologies LLC acquired a new stake in shares of SUNation Energy Inc. (NASDAQ:SUNE) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 92,515 shares of the company’s stock, valued at approximately $204,000. Renaissance Technologies LLC owned approximately 2.71% of SUNation Energy at the end of the most recent quarter. 4.21% of the stock is owned by institutional investors.

About SUNation Energy

SUNation Energy Group, Inc is a Florida-based solar energy company specializing in the design, engineering, procurement, construction and maintenance of photovoltaic solar systems. Headquartered in Boca Raton, the company focuses on delivering turnkey solar solutions for residential and commercial customers. Its integrated service model spans site assessment, system design, installation, interconnection and ongoing performance monitoring.

The company’s product offering includes rooftop and ground-mounted solar arrays, energy storage systems and electric vehicle charging stations.