Pineapple Energy Stock Set to Reverse Split on Thursday, October 17th (NASDAQ:PEGY)

Pineapple Energy Inc. (NASDAQ:PEGY) shares are scheduled to reverse split on the morning of Thursday, October 17th. The 1-50 reverse split was announced on Tuesday, October 15th. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, October 16th.

Pineapple Energy Stock Performance

Pineapple Energy stock traded down $0.02 during mid-day trading on Tuesday, reaching $0.10. The stock had a trading volume of 19,066,266 shares, compared to its average volume of 5,756,143. Pineapple Energy has a one year low of $0.10 and a one year high of $14.70. The company has a 50-day moving average price of $0.50 and a two-hundred day moving average price of $1.15.

Pineapple Energy (NASDAQ:PEGY) last issued its earnings results on Monday, August 19th. The company reported ($1.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.70) by $1.59. Pineapple Energy had a negative net margin of 15.13% and a negative return on equity of 193.08%. The business had revenue of $13.55 million during the quarter, compared to analysts’ expectations of $20.90 million.

Institutional Trading of Pineapple Energy

An institutional investor recently bought a new position in Pineapple Energy stock. Ground Swell Capital LLC acquired a new position in Pineapple Energy Inc. (NASDAQ:PEGY) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 34,894 shares of the company’s stock, valued at approximately $47,000. Ground Swell Capital LLC owned approximately 0.48% of Pineapple Energy as of its most recent filing with the Securities and Exchange Commission. 4.21% of the stock is currently owned by institutional investors and hedge funds.

Pineapple Energy Company Profile

Pineapple Energy Inc engages in the sale, design, and installation of photovoltaic solar energy systems and battery storage systems in the United States. Its brand portfolio includes SUNation, Hawaii Energy Connection, E-Gear, Sungevity, and Horizon Solar Power. The company develops and manufactures energy management software and hardware, such as energy management control devices on solar systems that are paired with batteries.