Northland Capmk Brokers Lower Earnings Estimates for Pineapple Energy Inc. (NASDAQ:PEGY)

Pineapple Energy Inc. (NASDAQ:PEGY) – Research analysts at Northland Capmk lowered their FY2023 earnings estimates for Pineapple Energy in a report released on Wednesday, November 15th. Northland Capmk analyst D. Schafer now forecasts that the company will earn ($0.55) per share for the year, down from their prior estimate of ($0.41). The consensus estimate for Pineapple Energy’s current full-year earnings is ($0.41) per share. Northland Capmk also issued estimates for Pineapple Energy’s FY2024 earnings at ($0.17) EPS.

Separately, Northland Securities reduced their target price on shares of Pineapple Energy from $3.70 to $2.50 and set an “outperform” rating for the company in a research report on Thursday, October 5th.

Pineapple Energy Stock Performance

PEGY opened at $0.62 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The company has a market cap of $6.27 million, a price-to-earnings ratio of -0.41 and a beta of 2.70. Pineapple Energy has a 52-week low of $0.57 and a 52-week high of $3.46. The firm’s fifty day simple moving average is $0.83 and its two-hundred day simple moving average is $1.13.

Hedge Funds Weigh In On Pineapple Energy

Institutional investors have recently bought and sold shares of the company. Two Sigma Securities LLC purchased a new stake in shares of Pineapple Energy in the 1st quarter worth about $31,000. Citadel Advisors LLC acquired a new position in shares of Pineapple Energy during the 3rd quarter valued at about $33,000. Millennium Management LLC acquired a new position in shares of Pineapple Energy during the 2nd quarter valued at about $44,000. Virtu Financial LLC acquired a new position in shares of Pineapple Energy during the 1st quarter valued at about $49,000. Finally, Renaissance Technologies LLC increased its position in Pineapple Energy by 530.6% during the 1st quarter. Renaissance Technologies LLC now owns 66,101 shares of the company’s stock worth $105,000 after purchasing an additional 55,619 shares in the last quarter. 6.89% of the stock is owned by institutional investors and hedge funds.

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.