SUNation Energy Inc. (NASDAQ:SUNE) Sees Significant Drop in Short Interest

SUNation Energy Inc. (NASDAQ:SUNE) was the recipient of a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 282,815 shares, a decline of 40.8% from the September 15th total of 477,461 shares. Currently, 4.3% of the company’s shares are sold short. Based on an average trading volume of 167,798 shares, the days-to-cover ratio is presently 1.7 days.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of SUNation Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, September 24th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On SUNation Energy

A hedge fund recently bought a new position in SUNation Energy stock. AWM Investment Company Inc. purchased a new stake in SUNation Energy Inc. (NASDAQ:SUNE) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 820,000 shares of the company’s stock, valued at approximately $1,595,000. AWM Investment Company Inc. owned about 19.90% of SUNation Energy as of its most recent SEC filing. 4.21% of the stock is owned by hedge funds and other institutional investors.

SUNation Energy Stock Performance

Shares of NASDAQ SUNE opened at $2.05 on Thursday. The company has a 50 day simple moving average of $2.49 and a 200-day simple moving average of $2.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.57 and a current ratio of 0.77. SUNation Energy has a 1 year low of $0.68 and a 1 year high of $9.45.

SUNation Energy (NASDAQ:SUNE) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.52) EPS for the quarter. SUNation Energy had a negative net margin of 8.48% and a negative return on equity of 24.03%. The firm had revenue of $8.16 million for the quarter.

SUNation Energy Company Profile

SUNation Energy Company, Inc is a solar energy and energy storage company that provides renewable-energy solutions primarily for residential customers. Its offerings include the design, sale, installation and maintenance of rooftop solar photovoltaic systems, battery storage systems and related electrical equipment.

The company also provides complementary clean-energy products and services, including electric-vehicle charging solutions and other energy-efficiency or home-electrification services.