Pineapple Energy Inc. (NASDAQ:PEGY) Short Interest Up 2,671.4% in October

Pineapple Energy Inc. (NASDAQ:PEGY) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 155,200 shares, an increase of 2,671.4% from the October 15th total of 5,600 shares. Based on an average daily volume of 917,200 shares, the short-interest ratio is presently 0.2 days. Currently, 12.0% of the company’s shares are short sold.

Pineapple Energy Stock Performance

Pineapple Energy stock opened at $3.19 on Wednesday. Pineapple Energy has a 12-month low of $2.85 and a 12-month high of $547.80. The company has a 50-day moving average price of $8.74 and a 200 day moving average price of $52.24.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Pineapple Energy stock. Anson Funds Management LP bought a new position in shares of Pineapple Energy Inc. (NASDAQ:PEGY) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,200,000 shares of the company’s stock, valued at approximately $150,000. Anson Funds Management LP owned 3.43% of Pineapple Energy at the end of the most recent reporting period. 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.