Wall Street Zen Upgrades PowerBank (NASDAQ:SUUN) to “Hold”

by · The Cerbat Gem

PowerBank (NASDAQ:SUUN – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of PowerBank in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $5.00.

Check Out Our Latest Report on PowerBank

PowerBank Stock Up 15.6%

Shares of SUUN opened at $1.63 on Friday. The stock has a 50 day moving average price of $1.67 and a 200 day moving average price of $1.67. PowerBank has a one year low of $1.23 and a one year high of $6.43. The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.67 and a current ratio of 0.97. The stock has a market capitalization of $61.87 million, a price-to-earnings ratio of -10.19 and a beta of 0.77.

PowerBank (NASDAQ:SUUN – Get Free Report) last announced its quarterly earnings data on Thursday, October 2nd. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.11. PowerBank had a positive return on equity of 3.48% and a negative net margin of 7.07%.The company had revenue of $12.14 million for the quarter, compared to analyst estimates of $21.94 million. Equities research analysts forecast that PowerBank will post -0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SUUN. Parallel Advisors LLC grew its holdings in shares of PowerBank by 57.4% in the second quarter. Parallel Advisors LLC now owns 27,422 shares of the company’s stock valued at $42,000 after purchasing an additional 10,000 shares during the period. NWF Advisory Services Inc. purchased a new position in PowerBank during the third quarter worth about $46,000. Citadel Advisors LLC purchased a new position in PowerBank during the third quarter worth about $52,000. Finally, Jane Street Group LLC acquired a new position in PowerBank in the 2nd quarter valued at about $28,000.

About PowerBank

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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.

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