Short Interest in SUNation Energy Inc. (NASDAQ:SUNE) Declines By 50.3%

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

Institutional Trading of SUNation Energy

A hedge fund recently bought a new position in SUNation Energy stock. AWM Investment Company Inc. purchased a new stake in shares of SUNation Energy Inc. (NASDAQ:SUNE) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 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. Institutional investors own 4.21% of the company’s stock.

Wall Street Analyst Weigh In

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

SUNation Energy Stock Performance

Shares of NASDAQ:SUNE traded down $0.04 during midday trading on Friday, reaching $2.16. 49,819 shares of the company traded hands, compared to its average volume of 117,348. The firm’s fifty day moving average price is $2.45 and its two-hundred day moving average price is $1.98. The firm has a market capitalization of $14.06 million, a price-to-earnings ratio of -71.98 and a beta of 2.15. The company has a quick ratio of 0.57, a current ratio of 0.77 and a debt-to-equity ratio of 0.13. SUNation Energy has a 12 month low of $0.68 and a 12 month high of $9.45.

SUNation Energy (NASDAQ:SUNE) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.52) earnings per share for the quarter. SUNation Energy had a negative net margin of 8.48% and a negative return on equity of 24.03%. The company 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.