Pineapple Energy Inc. (NASDAQ:PEGY) Sees Large Decrease in Short Interest

Pineapple Energy Inc. (NASDAQ:PEGY) was the recipient of a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 5,600 shares, a decline of 97.9% from the September 30th total of 269,400 shares. Based on an average trading volume of 852,300 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.6% of the shares of the stock are sold short.

Hedge Funds Weigh In On Pineapple Energy

An institutional investor recently bought a new position in Pineapple Energy stock. Anson Funds Management LP purchased a new position in shares of Pineapple Energy Inc. (NASDAQ:PEGY) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,200,000 shares of the company’s stock, valued at approximately $150,000. Anson Funds Management LP owned about 3.43% of Pineapple Energy at the end of the most recent quarter. 4.21% of the stock is owned by hedge funds and other institutional investors.

Pineapple Energy Stock Performance

PEGY traded up $0.23 on Friday, reaching $4.73. 606,898 shares of the company’s stock were exchanged, compared to its average volume of 316,446. Pineapple Energy has a twelve month low of $4.05 and a twelve month high of $734.92. The stock’s fifty day moving average price is $16.92 and its 200-day moving average price is $54.85.

Pineapple Energy (NASDAQ:PEGY) last posted its quarterly earnings results on Monday, August 19th. The company reported ($55.50) earnings per share for the quarter, topping analysts’ consensus estimates of ($135.00) by $79.50. The firm had revenue of $13.55 million for the quarter, compared to analyst estimates of $20.90 million. Pineapple Energy had a negative net margin of 15.13% and a negative return on equity of 193.08%.

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.