HC Wainwright Initiates Coverage on SolarBank (NASDAQ:SUUN)

Analysts at HC Wainwright began coverage on shares of SolarBank (NASDAQ:SUUN) in a research report issued on Wednesday,Benzinga reports. The firm set a “buy” rating and a $6.00 price target on the stock. HC Wainwright’s price objective would indicate a potential upside of 179.07% from the stock’s previous close.

SolarBank Trading Down 4.4 %

NASDAQ SUUN opened at $2.15 on Wednesday. SolarBank has a 1 year low of $2.06 and a 1 year high of $7.50. The company has a market cap of $66.48 million and a PE ratio of -12.65. The stock’s 50-day moving average price is $3.19 and its two-hundred day moving average price is $4.43.

SolarBank (NASDAQ:SUUN) last issued its quarterly earnings results on Monday, September 30th. The company reported ($0.25) EPS for the quarter. The company had revenue of $5.83 million for the quarter.

Institutional Trading of SolarBank

An institutional investor recently raised its position in SolarBank stock. Virtu Financial LLC increased its holdings in SolarBank Co. (NASDAQ:SUUN) by 91.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,075 shares of the company’s stock after acquiring an additional 11,051 shares during the period. Virtu Financial LLC owned about 0.07% of SolarBank worth $103,000 at the end of the most recent reporting period.

About SolarBank

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.