SUNation Energy (NASDAQ:SUNE) Releases Earnings Results

SUNation Energy (NASDAQ:SUNE) posted its quarterly earnings results on Friday. The company reported ($1.20) earnings per share (EPS) for the quarter, FiscalAI reports. SUNation Energy had a negative return on equity of 52.50% and a negative net margin of 15.15%.The business had revenue of $7.19 million during the quarter.

SUNation Energy Trading Down 6.0%

Shares of NASDAQ:SUNE opened at $1.65 on Friday. The company has a market cap of $5.63 million, a PE ratio of -0.62 and a beta of 2.29. The company’s 50-day moving average price is $1.66 and its 200 day moving average price is $1.40. SUNation Energy has a fifty-two week low of $0.68 and a fifty-two week high of $3.46. The company has a quick ratio of 0.90, a current ratio of 1.07 and a debt-to-equity ratio of 0.18.

Analysts Set New Price Targets

SUNE has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of SUNation Energy in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of SUNation Energy to a “buy” rating in a research report on Saturday, March 28th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Insiders Place Their Bets

In other news, CFO James Robert Brennan acquired 123,254 shares of the business’s stock in a transaction that occurred on Tuesday, April 14th. The shares were purchased at an average cost of $1.77 per share, for a total transaction of $218,159.58. Following the transaction, the chief financial officer directly owned 123,269 shares in the company, valued at $218,186.13. This trade represents a 821,693.33% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.01% of the stock is currently owned by corporate insiders.

Institutional Trading of SUNation Energy

An institutional investor recently bought a new position in SUNation Energy stock. Renaissance Technologies LLC acquired a new stake in SUNation Energy Inc. (NASDAQ:SUNE) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 92,515 shares of the company’s stock, valued at approximately $204,000. Renaissance Technologies LLC owned about 2.71% of SUNation Energy as of its most recent SEC filing. Hedge funds and other institutional investors own 4.21% of the company’s stock.

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.