SUNation Energy Inc. (NASDAQ:SUNE) Short Interest Update

SUNation Energy Inc. (NASDAQ:SUNE) was the target of a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 490,679 shares, a growth 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 shares are sold short.

Analysts Set New Price Targets

SUNE has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SUNation Energy in a research note on Tuesday, April 21st. Wall Street Zen downgraded shares of SUNation Energy from a “buy” rating to a “hold” rating in a research note on Saturday, May 23rd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, SUNation Energy has a consensus rating of “Sell”.

SUNation Energy Trading Up 0.8%

Shares of NASDAQ:SUNE traded up $0.02 during mid-day trading on Wednesday, reaching $2.38. The stock had a trading volume of 97,401 shares, compared to its average volume of 4,977,375. The firm has a market cap of $9.81 million, a PE ratio of -0.90 and a beta of 2.30. The firm has a 50 day simple moving average of $1.84 and a two-hundred day simple moving average of $1.57. The company has a current ratio of 0.72, a quick ratio of 0.49 and a debt-to-equity ratio of 0.15. SUNation Energy has a twelve month low of $0.68 and a twelve month high of $9.45.

SUNation Energy (NASDAQ:SUNE) last issued its 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 net margin of 17.28% and a negative return on equity of 51.96%.

Insider Transactions at SUNation Energy

In other news, CFO James Robert Brennan acquired 123,254 shares of the stock in a transaction that occurred on Tuesday, April 14th. The stock was purchased at an average cost of $1.77 per share, for a total transaction of $218,159.58. Following the completion of the transaction, 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.01% of the stock is currently owned by corporate insiders.

Institutional Trading of SUNation Energy

An institutional investor recently bought a new position in SUNation Energy stock. Renaissance Technologies LLC bought a new stake in SUNation Energy Inc. (NASDAQ:SUNE) in the first quarter, according to 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 2.71% of SUNation Energy at the end of the most recent quarter. Institutional investors own 4.21% of the company’s stock.

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.