Pineapple Energy Inc. (NASDAQ:PEGY) Forecasted to Post Q2 2023 Earnings of ($0.05) Per Share

Pineapple Energy Inc. (NASDAQ:PEGY – Get Rating) – Analysts at Northland Capmk decreased their Q2 2023 earnings per share estimates for Pineapple Energy in a research report issued on Thursday, May 18th. Northland Capmk analyst D. Schafer now expects that the company will post earnings of ($0.05) per share for the quarter, down from their previous forecast of ($0.03). The consensus estimate for Pineapple Energy’s current full-year earnings is ($0.22) per share. Northland Capmk also issued estimates for Pineapple Energy’s Q3 2023 earnings at ($0.03) EPS, Q4 2023 earnings at $0.01 EPS, FY2023 earnings at ($0.22) EPS and FY2024 earnings at $0.27 EPS.

Pineapple Energy (NASDAQ:PEGY – Get Rating) last announced its quarterly earnings data on Thursday, March 30th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.01 by $0.11. Pineapple Energy had a negative return on equity of 8.54% and a negative net margin of 20.86%. The business had revenue of $17.18 million for the quarter, compared to the consensus estimate of $15.00 million.

Separately, EF Hutton Acquisition Co. I restated a “buy” rating and issued a $5.50 price objective on shares of Pineapple Energy in a research report on Monday, April 17th.

Pineapple Energy Price Performance

Shares of Pineapple Energy stock opened at $1.40 on Monday. The stock’s 50-day simple moving average is $1.43 and its 200-day simple moving average is $1.95. Pineapple Energy has a 52 week low of $0.76 and a 52 week high of $7.54. The company has a market capitalization of $13.93 million, a price-to-earnings ratio of -1.09 and a beta of 2.59. The company has a quick ratio of 0.77, a current ratio of 1.01 and a debt-to-equity ratio of 0.33.

Institutional Investors Weigh In On Pineapple Energy

Hedge funds have recently made changes to their positions in the company. Coldstream Capital Management Inc. purchased a new stake in shares of Pineapple Energy in the fourth quarter worth about $42,000. Millennium Management LLC bought a new stake in Pineapple Energy during the second quarter worth approximately $44,000. Two Sigma Securities LLC bought a new stake in Pineapple Energy during the first quarter worth approximately $31,000. DekaBank Deutsche Girozentrale bought a new stake in Pineapple Energy during the first quarter worth approximately $37,000. Finally, Virtu Financial LLC bought a new stake in Pineapple Energy during the first quarter worth approximately $49,000.

Pineapple Energy Company Profile

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Pineapple Energy, Inc is focused on local and regional solar, storage, and energy services companies nationwide. The firm’s vision is to power the energy transition through the grass-roots growth of solar electricity paired with battery storage. Its portfolio of brands, including SUNation, Hawaii Energy Connection, E-Gear, Sungevity, and Horizon Solar Power, provides homeowners and small businesses with an end-to-end product offering spanning solar, battery storage, and grid services.