SUNation Energy Inc. (NASDAQ:SUNE) Shares Shorted: Short Interest Up 267.0% in September

SUNation Energy Inc. (NASDAQ:SUNE) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 477,461 shares, an increase of 267.0% from the August 31st total of 130,112 shares. Based on an average daily volume of 15,558,053 shares, the days-to-cover ratio is presently 0.0 days. Approximately 7.3% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered SUNation Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Institutional Trading of SUNation Energy

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

SUNation Energy Stock Performance

SUNE stock opened at $2.40 on Monday. The company has a 50 day moving average price of $2.51 and a 200 day moving average price of $2.15. SUNation Energy has a fifty-two week low of $0.68 and a fifty-two week high of $9.45. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.77 and a quick ratio of 0.57. The stock has a market capitalization of $15.62 million, a PE ratio of -79.97 and a beta of 2.17.

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

SUNation Energy Company Profile

SUNation Energy Group, Inc is a renewable energy company that provides solar power and related energy services. Through its SUNation operating business, the company designs and installs photovoltaic solar systems for residential, commercial and other customers.

Its offerings also include battery energy storage, electric vehicle charging equipment, roofing and electrical services, and related system support. These solutions are intended to help customers generate and manage electricity on-site while increasing energy resilience and reducing reliance on conventional power sources.

SUNation traces its roots to 2003 and is based in Ronkonkoma, New York.