SolarBank (NASDAQ:SUUN) Issues Quarterly Earnings Results, Misses Estimates By $0.04 EPS

SolarBank (NASDAQ:SUUN) announced its quarterly earnings results on Friday. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.04), Zacks reports. SolarBank had a negative net margin of 6.92% and a negative return on equity of 13.89%. The firm had revenue of $2.93 million for the quarter, compared to the consensus estimate of $11.64 million.

SolarBank Trading Down 4.7 %

NASDAQ:SUUN traded down $0.27 during trading hours on Friday, hitting $5.52. The stock had a trading volume of 263,865 shares, compared to its average volume of 133,421. The company has a market cap of $171.62 million and a price-to-earnings ratio of -32.47. SolarBank has a one year low of $1.95 and a one year high of $7.50. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.68 and a current ratio of 0.91. The business’s 50 day moving average is $2.67 and its 200-day moving average is $3.42.

Analyst Upgrades and Downgrades

Separately, HC Wainwright assumed coverage on shares of SolarBank in a research report on Wednesday, December 11th. They set a “buy” rating and a $6.00 target price on the stock.

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.