SUNation Energy Inc. (NASDAQ:SUNE) Sees Large Decrease in Short Interest

SUNation Energy Inc. (NASDAQ:SUNE) was the target of a significant decline in short interest in the month of August. As of August 14th, there was short interest totaling 169,682 shares, a decline of 50.3% from the July 30th total of 341,209 shares. Currently, 2.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 146,487 shares, the short-interest ratio is presently 1.2 days.

Institutional Trading of SUNation Energy

An institutional investor recently bought a new stake in SUNation Energy stock. AWM Investment Company Inc. bought a new stake in SUNation Energy Inc. (NASDAQ:SUNE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 820,000 shares of the company’s stock, valued at approximately $1,595,000. AWM Investment Company Inc. owned approximately 19.90% 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.

Analysts Set New Price Targets

Several equities analysts have weighed in on SUNE shares. Weiss Ratings cut SUNation Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. Wall Street Zen cut SUNation Energy from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

SUNation Energy Stock Performance

Shares of SUNation Energy stock opened at $2.16 on Friday. 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 cap of $14.06 million, a PE ratio of -71.98 and a beta of 2.15. The company has a 50 day moving average of $2.45 and a 200-day moving average of $1.98. SUNation Energy has a 1-year low of $0.68 and a 1-year high of $9.45.

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

SUNation Energy Company Profile

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.