Pineapple Energy Inc. (NASDAQ:PEGY) Sees Significant Increase in Short Interest

Pineapple Energy Inc. (NASDAQ:PEGY) was the recipient of a large increase in short interest in July. As of July 15th, there was short interest totalling 1,260,000 shares, an increase of 151.6% from the June 30th total of 500,700 shares. Currently, 24.1% of the company’s stock are short sold. Based on an average trading volume of 6,880,000 shares, the short-interest ratio is presently 0.2 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Pineapple Energy stock. Coldstream Capital Management Inc. boosted its holdings in shares of Pineapple Energy Inc. (NASDAQ:PEGY) by 186.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 280,812 shares of the company’s stock after buying an additional 182,812 shares during the period. Coldstream Capital Management Inc. owned approximately 2.80% of Pineapple Energy worth $166,000 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.

Pineapple Energy Stock Performance

Shares of PEGY traded down $0.01 during trading hours on Friday, hitting $1.37. The company had a trading volume of 589,964 shares, compared to its average volume of 6,456,947. The company has a current ratio of 0.63, a quick ratio of 0.49 and a debt-to-equity ratio of 0.50. Pineapple Energy has a one year low of $0.62 and a one year high of $20.10. The company’s fifty day moving average price is $1.95 and its two-hundred day moving average price is $2.21.

Pineapple Energy (NASDAQ:PEGY) last announced its earnings results on Thursday, May 9th. The company reported ($3.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.00) by ($0.90). Pineapple Energy had a negative net margin of 6.18% and a negative return on equity of 22.83%. The business had revenue of $13.22 million for the quarter, compared to analyst estimates of $18.90 million. During the same period in the prior year, the company earned ($3.90) earnings per share. Equities research analysts expect that Pineapple Energy will post -11.39 EPS for the current fiscal year.

About Pineapple Energy

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.