SUNation Energy (NASDAQ:SUNE) Trading Down 5.7% – Time to Sell?

SUNation Energy Inc. (NASDAQ:SUNE)’s stock price dropped 5.7% on Thursday . The company traded as low as $2.42 and last traded at $2.47. Approximately 90,708 shares traded hands during trading, a decline of 98% from the average session volume of 5,648,921 shares. The stock had previously closed at $2.62.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Weiss Ratings lowered shares of SUNation Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. Wall Street Zen downgraded SUNation Energy from a “buy” rating to a “hold” rating in a research note on Saturday, May 23rd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, SUNation Energy currently has an average rating of “Sell”.

SUNation Energy Trading Up 6.1%

The company has a market cap of $10.79 million, a price-to-earnings ratio of -0.99 and a beta of 2.15. 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 firm’s fifty day moving average price is $2.47 and its 200-day moving average price is $1.84.

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

Institutional Investors Weigh In On SUNation Energy

A hedge fund recently bought a new stake in SUNation Energy stock. Renaissance Technologies LLC acquired a new position in shares of SUNation Energy Inc. (NASDAQ:SUNE) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 92,515 shares of the company’s stock, valued at approximately $204,000. Renaissance Technologies LLC owned 2.71% of SUNation Energy at the end of the most recent quarter. 4.21% of the stock is currently owned by institutional investors and hedge funds.

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.