PowerBank (NASDAQ:SUUN) Announces Earnings Results, Misses Estimates By $0.13 EPS

PowerBank (NASDAQ:SUUN) announced its quarterly earnings results on Friday. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.13), Zacks reports. 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 15.16% and a negative net margin of 21.31%.

PowerBank Price Performance

Shares of NASDAQ SUUN opened at $1.13 on Friday. The business’s 50 day moving average is $1.62 and its 200-day moving average is $1.70. The firm has a market cap of $52.62 million, a P/E ratio of -4.35 and a beta of 0.60. PowerBank has a 1-year low of $1.11 and a 1-year high of $5.94. The company has a current ratio of 0.97, a quick ratio of 0.67 and a debt-to-equity ratio of 2.56.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SUUN. Jane Street Group LLC bought a new stake in shares of PowerBank in the fourth quarter valued at about $191,000. Goldman Sachs Group Inc. increased its position in 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 acquiring an additional 79,302 shares during the period. Citadel Advisors LLC acquired a new stake in PowerBank in the 3rd quarter worth about $52,000. Finally, HRT Financial LP bought a new stake in PowerBank in the 4th quarter valued at about $55,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SUUN shares. Wall Street Zen downgraded PowerBank from a “hold” rating to a “strong sell” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PowerBank in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.00.

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.