HC Wainwright Initiates Coverage on SolarBank (NASDAQ:SUUN)

Equities researchers at HC Wainwright started coverage on shares of SolarBank (NASDAQ:SUUN) in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $6.00 price target on the stock. HC Wainwright’s price target points to a potential upside of 167.86% from the company’s previous close.

SolarBank Stock Performance

NASDAQ:SUUN opened at $2.24 on Wednesday. SolarBank has a 52 week low of $2.06 and a 52 week high of $7.50. The company has a market capitalization of $69.27 million and a price-to-earnings ratio of -13.18. The company has a 50-day moving average of $3.12 and a 200-day moving average of $4.40.

SolarBank (NASDAQ:SUUN) last released its quarterly earnings data on Monday, September 30th. The company reported ($0.25) EPS for the quarter. The company had revenue of $5.83 million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in SolarBank stock. Virtu Financial LLC raised its position in shares of SolarBank Co. (NASDAQ:SUUN) by 91.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,075 shares of the company’s stock after acquiring an additional 11,051 shares during the quarter. Virtu Financial LLC owned about 0.07% of SolarBank worth $103,000 as of its most recent SEC filing.

SolarBank Company Profile

SolarBank Corporation operates as an independent renewable and clean energy project developer and asset operator in Canada and the United States. The company engages in the site origination, development, financing, engineering, procurement, construction, operation, maintenance, and asset management of solar photovoltaic power generation projects.