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

Pineapple Energy Inc. (NASDAQ:PEGY)’s stock is going to reverse split on 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 market closes on Wednesday, October 16th.

Pineapple Energy Stock Performance

PEGY traded down $0.02 during midday trading on Tuesday, hitting $0.10. 19,066,266 shares of the company traded hands, compared to its average volume of 5,756,143. Pineapple Energy has a 52-week low of $0.10 and a 52-week high of $14.70. The business has a 50 day simple moving average of $0.50 and a two-hundred day simple moving average of $1.15.

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

Hedge Funds Weigh In On Pineapple Energy

A hedge fund recently bought a new stake in Pineapple Energy stock. Ground Swell Capital LLC purchased a new position in Pineapple Energy Inc. (NASDAQ:PEGY) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 34,894 shares of the company’s stock, valued at approximately $47,000. Ground Swell Capital LLC owned approximately 0.48% of Pineapple Energy at the end of the most recent quarter. Institutional investors own 4.21% of the company’s stock.

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.