SUNation Energy Inc. (NASDAQ:SUNE) Short Interest Up 119.9% in June

SUNation Energy Inc. (NASDAQ:SUNE) was the target of a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 490,679 shares, an increase of 119.9% from the May 31st total of 223,129 shares. Based on an average trading volume of 31,448,188 shares, the days-to-cover ratio is presently 0.0 days. Currently, 11.9% of the company’s stock are sold short.

Analyst Ratings Changes

SUNE has been the topic of a number of recent analyst reports. Wall Street Zen lowered SUNation Energy from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. Weiss Ratings reissued 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.com, SUNation Energy currently has an average rating of “Sell”.

SUNation Energy Stock Performance

Shares of SUNation Energy stock opened at $2.26 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.49 and a current ratio of 0.72. SUNation Energy has a 1 year low of $0.68 and a 1 year high of $9.45. The firm’s 50-day simple moving average is $1.83 and its 200-day simple moving average is $1.56. The firm has a market cap of $9.31 million, a PE ratio of -0.85 and a beta of 2.31.

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

Insider Activity at SUNation Energy

In other SUNation Energy news, CFO James Robert Brennan purchased 123,254 shares of the business’s stock in a transaction that occurred on Tuesday, April 14th. The shares were acquired at an average price of $1.77 per share, for a total transaction of $218,159.58. Following the completion of the purchase, the chief financial officer owned 123,269 shares in the company, valued at $218,186.13. The trade was a 821,693.33% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.01% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in SUNation Energy stock. Renaissance Technologies LLC bought a new position in SUNation Energy Inc. (NASDAQ:SUNE) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 92,515 shares of the company’s stock, valued at approximately $204,000. Renaissance Technologies LLC owned approximately 2.71% of SUNation Energy at the end of the most recent quarter. 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.