Pineapple Energy Inc. (NASDAQ:PEGY) Sees Significant Increase in Short Interest

Pineapple Energy Inc. (NASDAQ:PEGY) was the target of a significant increase in short interest in July. As of July 15th, there was short interest totalling 1,260,000 shares, an increase of 151.6% from the June 30th total of 500,700 shares. Currently, 24.1% of the company’s stock are short sold. Based on an average daily volume of 6,880,000 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On Pineapple Energy

A hedge fund recently raised its stake in Pineapple Energy stock. Coldstream Capital Management Inc. raised its stake in Pineapple Energy Inc. (NASDAQ:PEGY) by 186.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 280,812 shares of the company’s stock after acquiring an additional 182,812 shares during the period. Coldstream Capital Management Inc. owned approximately 2.80% of Pineapple Energy worth $166,000 as of its most recent SEC filing. 4.21% of the stock is currently owned by institutional investors.

Pineapple Energy Stock Down 0.7 %

PEGY traded down $0.01 during trading on Friday, reaching $1.37. The stock had a trading volume of 589,964 shares, compared to its average volume of 6,456,947. The stock’s 50 day moving average is $1.95 and its two-hundred day moving average is $2.21. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.63 and a quick ratio of 0.49. Pineapple Energy has a one year low of $0.62 and a one year high of $20.10.

Pineapple Energy (NASDAQ:PEGY) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($3.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.00) by ($0.90). The firm had revenue of $13.22 million during the quarter, compared to the consensus estimate of $18.90 million. Pineapple Energy had a negative return on equity of 22.83% and a negative net margin of 6.18%. During the same quarter last year, the company posted ($3.90) EPS. On average, analysts expect that Pineapple Energy will post -11.39 EPS for the current fiscal year.

About Pineapple Energy

Pineapple Energy Inc engages in the sale, design, and installation of photovoltaic solar energy systems and battery storage systems in the United States. Its brand portfolio includes SUNation, Hawaii Energy Connection, E-Gear, Sungevity, and Horizon Solar Power. The company develops and manufactures energy management software and hardware, such as energy management control devices on solar systems that are paired with batteries.