- Hannon Armstrong Sustainable Infrastructure Capital ( NYSE: HASI ) fell 3.4% in premarket trading after a new short report following a short call last Tuesday from Muddy Waters.
- Jehoshaphat Research released a short report today that claims that HASI's gains on sales are expected to "quickly collapse" this year due to the new rate environment. The short report also alleges that the dividend is at risk.
- Muddy Waters alleged in is short report last week that HASI's accounting is complex and that the company appears to inflate its GAAP earnings. HASI shares plummeted 20% on the short report on Tuesday.
- HASI responded to the Muddy Waters allegations last week and said that it believes that its accounting is fully compliant with GAAP and SEC regulations and is an accurate representation of its financial performance. HASI also said it has sufficient portfolio cash flow to pay its dividend.
- HASI short interest is 12%.
- Analysts defended HASI after the short call last week.
- HASI is set to report Q2 results on Aug. 4.
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Hannon Armstrong Sustainable drops after new short call from Jehoshaphat Research