Sunation Energy Inc. (NASDAQ:SUNE) shares are trending on Thursday.
Shares of the New York-based solar and energy company jumped 24.64% to $2.63 in the after-hours session on Wednesday, adding to a 2.43% regular-session gain.
Filing Reveals Near-20% Stake
The rally came alongside a Wednesday filing with the Securities and Exchange Commission that disclosed AWM Investment Company had reported beneficial ownership of 820,000 SUNE shares, representing 19.9% of the company’s outstanding common stock.
The shares are held by Special Situations Private Equity Fund, L.P., with AWM serving as the fund’s investment adviser and holding sole voting and investment authority over the stake. David M. Greenhouse and Adam C. Stettner, AWM’s controlling principals, are also members of the fund’s general partner.
