Short Interest in Pineapple Energy Inc. (NASDAQ:PEGY) Drops By 97.9%

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

Pineapple Energy Stock Performance

NASDAQ:PEGY opened at $4.73 on Friday. Pineapple Energy has a 12 month low of $4.05 and a 12 month high of $734.92. The company’s 50-day moving average price is $16.92 and its two-hundred day moving average price is $54.85.

Pineapple Energy (NASDAQ:PEGY) last announced its earnings results on Monday, August 19th. The company reported ($55.50) EPS for the quarter, topping the consensus estimate of ($135.00) by $79.50. Pineapple Energy had a negative return on equity of 193.08% and a negative net margin of 15.13%. The business had revenue of $13.55 million for the quarter, compared to the consensus estimate of $20.90 million.

Institutional Trading of Pineapple Energy

An institutional investor recently bought a new position in Pineapple Energy stock. Ground Swell Capital LLC acquired a new position in shares of Pineapple Energy Inc. (NASDAQ:PEGY) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 34,894 shares of the company’s stock, valued at approximately $47,000. Ground Swell Capital LLC owned about 0.48% of Pineapple Energy as of its most recent SEC filing. Institutional investors and hedge funds own 4.21% of the company’s stock.

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.