SUNation Energy (NASDAQ:SUNE) Downgraded to Hold Rating by Wall Street Zen

SUNation Energy (NASDAQ:SUNE) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of SUNation Energy in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

SUNation Energy Stock Performance

Shares of SUNE opened at $1.23 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.90 and a current ratio of 0.72. The stock has a market capitalization of $5.07 million, a P/E ratio of -0.46 and a beta of 2.29. The company’s fifty day moving average is $1.65 and its two-hundred day moving average is $1.39. SUNation Energy has a 1 year low of $0.68 and a 1 year high of $3.46.

SUNation Energy (NASDAQ:SUNE) last announced its quarterly earnings data on Friday, May 15th. The company reported ($1.20) earnings per share (EPS) for the quarter. The firm had revenue of $7.19 million during the quarter. SUNation Energy had a negative net margin of 17.28% and a negative return on equity of 51.96%.

Insider Buying and Selling at SUNation Energy

In related news, CFO James Robert Brennan purchased 123,254 shares of the stock in a transaction dated Tuesday, April 14th. The shares were acquired at an average cost of $1.77 per share, with a total value of $218,159.58. Following the purchase, 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 legal filing with the SEC, which is available through the SEC website. 0.01% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SUNation Energy

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

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.