SUNation Energy (NASDAQ:SUNE) Announces Quarterly Earnings Results

SUNation Energy (NASDAQ:SUNE) released 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 firm had revenue of $7.19 million during the quarter.

SUNation Energy Stock Down 6.0%

SUNE stock opened at $1.65 on Friday. The stock has a market capitalization of $5.62 million, a P/E ratio of -0.02 and a beta of 2.29. The firm has a 50-day simple moving average of $1.66 and a 200-day simple moving average of $1.40. The company has a quick ratio of 0.90, a current ratio of 1.07 and a debt-to-equity ratio of 0.18. SUNation Energy has a 52 week low of $0.68 and a 52 week high of $3.46.

Insider Activity at SUNation Energy

In related news, CFO James Robert Brennan bought 123,254 shares of the business’s stock in a transaction dated Tuesday, April 14th. The stock was acquired at an average price of $1.77 per share, with a total value of $218,159.58. Following the completion of the purchase, the chief financial officer directly owned 123,269 shares of the company’s stock, valued at approximately $218,186.13. This trade represents a 821,693.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.01% of the stock is owned by corporate insiders.

Institutional Trading of SUNation Energy

A hedge fund recently bought a new stake in SUNation Energy stock. Renaissance Technologies LLC bought a new position in shares of SUNation Energy Inc. (NASDAQ:SUNE) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 92,515 shares of the company’s stock, valued at approximately $204,000. Renaissance Technologies LLC owned approximately 2.71% of SUNation Energy as of its most recent SEC filing. 4.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on SUNE. Wall Street Zen upgraded shares of SUNation Energy to a “buy” rating in a research report on Saturday, March 28th. Weiss Ratings reiterated a “sell (e+)” rating on shares of SUNation Energy in a research report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, SUNation Energy currently has a consensus rating of “Sell”.

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.