SUNation Energy (NASDAQ:SUNE) Shares Down 8.1% – Time to Sell?

SUNation Energy Inc. (NASDAQ:SUNE)’s stock price was down 8.1% during mid-day trading on Monday . The stock traded as low as $2.24 and last traded at $2.26. Approximately 214,071 shares traded hands during trading, a decline of 99% from the average session volume of 17,949,668 shares. The stock had previously closed at $2.46.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wall Street Zen lowered SUNation Energy from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. Weiss Ratings restated a “sell (e+)” rating on shares of SUNation Energy in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

SUNation Energy Stock Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 0.72 and a quick ratio of 0.49. The company’s 50-day moving average price is $1.83 and its two-hundred day moving average price is $1.56. The company has a market capitalization of $9.31 million, a price-to-earnings ratio of -0.85 and a beta of 2.31.

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

Insiders Place Their Bets

In other SUNation Energy news, CFO James Robert Brennan acquired 123,254 shares of the stock in a transaction dated Tuesday, April 14th. The stock was purchased at an average cost of $1.77 per share, with a total value of $218,159.58. Following the transaction, the chief financial officer owned 123,269 shares in the company, valued at approximately $218,186.13. The trade was a 821,693.33% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On SUNation Energy

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 first quarter, according to its most recent 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 filing with the Securities and Exchange Commission (SEC). 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.