PowerBank Corporation (NASDAQ:SUUN) Sees Significant Decrease in Short Interest
by Tristan Rich · The Markets DailyPowerBank Corporation (NASDAQ:SUUN – Get Free Report) was the recipient of a large decrease in short interest during the month of March. As of March 13th, there was short interest totaling 869,344 shares, a decrease of 20.6% from the February 26th total of 1,094,915 shares. Based on an average trading volume of 786,644 shares, the days-to-cover ratio is presently 1.1 days. Approximately 1.9% of the company’s shares are sold short.
PowerBank Stock Up 1.1%
Shares of SUUN stock traded up $0.01 during trading on Tuesday, reaching $0.51. The company’s stock had a trading volume of 590,022 shares, compared to its average volume of 1,633,505. PowerBank has a 1-year low of $0.45 and a 1-year high of $2.55. The stock’s 50-day moving average price is $1.05 and its 200 day moving average price is $1.47. The company has a market capitalization of $23.86 million, a price-to-earnings ratio of -1.96 and a beta of 1.28. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.14 and a quick ratio of 0.76.
PowerBank (NASDAQ:SUUN – Get Free Report) last released its earnings results on Thursday, February 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.18). The business had revenue of $2.23 million for the quarter, compared to analyst estimates of $10.10 million. PowerBank had a negative return on equity of 16.47% and a negative net margin of 21.31%. On average, research analysts anticipate that PowerBank will post -0.04 EPS for the current year.
Analysts Set New Price Targets
Several analysts recently weighed in on SUUN shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of PowerBank in a report on Friday, January 9th. Freedom Capital lowered PowerBank from a “hold” rating to a “strong sell” rating in a research report on Monday, February 23rd. Finally, Wall Street Zen raised PowerBank from a “sell” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $4.00.
Get Our Latest Stock Report on SUUN
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC acquired a new position in PowerBank during the 2nd quarter worth $28,000. NWF Advisory Services Inc. purchased a new position in shares of PowerBank in the 3rd quarter valued at about $46,000. Citadel Advisors LLC acquired a new position in shares of PowerBank during the third quarter worth about $52,000. Goldman Sachs Group Inc. grew its position in shares of PowerBank by 416.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 98,359 shares of the company’s stock worth $178,000 after buying an additional 79,302 shares in the last quarter. Finally, HRT Financial LP purchased a new stake in shares of PowerBank during the fourth quarter worth approximately $55,000.
PowerBank Company Profile
PowerBank Corporation, formerly known as SolarBank Corporation, operates as an independent renewable and clean energy project developer and asset operator in Canada and the United States. The company engages in the site origination, development, financing, engineering, procurement, construction, operation, maintenance, and asset management of solar photovoltaic power generation projects. It offers solar energy solutions in the areas of behind-the-meter solar power plants, electricity grid connected community solar gardens, and utility scale solar farms.