SUNation Energy Inc. (NASDAQ:SUNE) Sees Significant Drop in Short Interest

SUNation Energy Inc. (NASDAQ:SUNE) saw a large drop in short interest in September. As of September 30th, there was short interest totaling 282,815 shares, a drop of 40.8% from the September 15th total of 477,461 shares. Currently, 4.3% of the shares of the stock are short sold. Based on an average daily volume of 167,798 shares, the short-interest ratio is currently 1.7 days.

SUNation Energy Trading Down 10.9%

SUNE stock opened at $2.05 on Thursday. 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 firm has a 50-day moving average of $2.49 and a two-hundred day moving average of $2.18. SUNation Energy has a 12 month low of $0.68 and a 12 month high of $9.45.

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

Hedge Funds Weigh In On SUNation Energy

A hedge fund recently bought a new stake in SUNation Energy stock. AWM Investment Company Inc. bought a new stake in SUNation Energy Inc. (NASDAQ:SUNE) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing. 4.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of SUNation Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, September 24th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

About SUNation Energy

SUNation Energy Company, Inc is a solar energy and energy storage company that provides renewable-energy solutions primarily for residential customers. Its offerings include the design, sale, installation and maintenance of rooftop solar photovoltaic systems, battery storage systems and related electrical equipment.

The company also provides complementary clean-energy products and services, including electric-vehicle charging solutions and other energy-efficiency or home-electrification services.