SUNation Energy Inc. (NASDAQ:SUNE) Shares Shorted: Short Interest Down 40.8% in September

SUNation Energy Inc. (NASDAQ:SUNE) was the target of a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 282,815 shares, a decline of 40.8% from the September 15th total of 477,461 shares. Based on an average daily volume of 167,798 shares, the short-interest ratio is currently 1.7 days. Currently, 4.3% of the shares of the company are short sold.

SUNation Energy Stock Performance

NASDAQ SUNE traded down $0.11 on Friday, hitting $2.05. 144,989 shares of the company traded hands, compared to its average volume of 111,027. The business’s 50 day moving average price is $2.48 and its 200-day moving average price is $2.18. SUNation Energy has a 52-week low of $0.68 and a 52-week high of $9.45. The company has a current ratio of 0.77, a quick ratio of 0.57 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $13.35 million, a price-to-earnings ratio of -68.31 and a beta of 2.62.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut SUNation Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, September 24th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Hedge Funds Weigh In On SUNation Energy

A hedge fund recently bought a new stake in SUNation Energy stock. AWM Investment Company Inc. purchased a new stake in shares of SUNation Energy Inc. (NASDAQ:SUNE) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 820,000 shares of the company’s stock, valued at approximately $1,595,000. AWM Investment Company Inc. owned about 19.90% of SUNation Energy at the end of the most recent quarter. Hedge funds and other institutional investors own 4.21% of the company’s stock.

SUNation Energy Company Profile

SUNation Energy Company, Inc is a solar energy and energy storage company that provides renewable-energy solutions primarily for residential customers. Its offerings include the design, sale, installation and maintenance of rooftop solar photovoltaic systems, battery storage systems and related electrical equipment.

The company also provides complementary clean-energy products and services, including electric-vehicle charging solutions and other energy-efficiency or home-electrification services.