SUNation Energy (NASDAQ:SUNE) Stock Price Down 8.1% – What’s Next?

SUNation Energy Inc. (NASDAQ:SUNE)’s stock price dropped 8.1% on Monday . The company traded as low as $2.24 and last traded at $2.26. 214,071 shares were traded during mid-day trading, a decline of 99% from the average session volume of 17,949,668 shares. The stock had previously closed at $2.46.

Analyst Ratings Changes

SUNE has been the subject of a number of research reports. Wall Street Zen downgraded shares of SUNation Energy from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SUNation Energy in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

SUNation Energy Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 0.72 and a quick ratio of 0.49. The stock has a fifty day simple moving average of $1.84 and a 200-day simple moving average of $1.57. The company has a market capitalization of $9.81 million, a price-to-earnings ratio of -0.90 and a beta of 2.30.

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

Insider Buying and Selling

In other news, CFO James Robert Brennan acquired 123,254 shares of the business’s stock in a transaction on Tuesday, April 14th. The stock was bought at an average price of $1.77 per share, with a total value of $218,159.58. Following the completion of the acquisition, the chief financial officer owned 123,269 shares of the company’s stock, valued at approximately $218,186.13. This represents a 821,693.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.01% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in SUNation Energy stock. Renaissance Technologies LLC bought a new stake in shares of SUNation Energy Inc. (NASDAQ:SUNE) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 92,515 shares of the company’s stock, valued at approximately $204,000. Renaissance Technologies LLC owned 2.71% of SUNation Energy as of its most recent SEC filing. 4.21% of the stock is currently owned by hedge funds and other institutional investors.

SUNation Energy Company Profile

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.