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

SUNation Energy Inc. (NASDAQ:SUNE) was the recipient of a large decrease in short interest in the month of March. As of March 13th, there was short interest totaling 282,136 shares, a decrease of 18.9% from the February 26th total of 347,887 shares. Approximately 8.3% of the shares of the stock are sold short. Based on an average trading volume of 285,606 shares, the days-to-cover ratio is presently 1.0 days.

Analysts Set New Price Targets

SUNE has been the topic of a number of recent analyst reports. Wall Street Zen upgraded SUNation Energy to a “buy” rating in a research report on Saturday. Weiss Ratings reiterated a “sell (e+)” rating on shares of SUNation Energy in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, SUNation Energy presently has an average rating of “Sell”.

SUNation Energy Price Performance

Shares of SUNE traded down $0.43 during midday trading on Monday, hitting $1.94. The company’s stock had a trading volume of 355,825 shares, compared to its average volume of 4,082,207. The company has a quick ratio of 0.90, a current ratio of 1.07 and a debt-to-equity ratio of 0.18. SUNation Energy has a one year low of $0.68 and a one year high of $108.60. The stock has a market capitalization of $6.63 million, a price-to-earnings ratio of -0.02 and a beta of 3.27. The company’s fifty day simple moving average is $1.49 and its two-hundred day simple moving average is $1.38.

SUNation Energy (NASDAQ:SUNE) last announced its quarterly earnings data on Wednesday, March 18th. The company reported $1.81 earnings per share for the quarter. SUNation Energy had a negative return on equity of 52.50% and a negative net margin of 15.15%.The business had revenue of $27.21 million during the quarter.

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.