PowerBank Corporation (NASDAQ:SUUN) Short Interest Update

PowerBank Corporation (NASDAQ:SUUN) was the recipient of a large decrease in short interest in the month of February. As of February 27th, there was short interest totaling 1,094,915 shares, a decrease of 30.5% from the February 12th total of 1,575,534 shares. Currently, 2.3% of the company’s stock are short sold. Based on an average daily volume of 999,231 shares, the short-interest ratio is presently 1.1 days. Based on an average daily volume of 999,231 shares, the short-interest ratio is presently 1.1 days. Currently, 2.3% of the company’s stock are short sold.

Institutional Trading of PowerBank

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC bought a new stake in PowerBank during the fourth quarter worth about $191,000. Goldman Sachs Group Inc. grew its stake in PowerBank by 416.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 98,359 shares of the company’s stock valued at $178,000 after purchasing an additional 79,302 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of PowerBank during the 4th quarter worth approximately $63,000. Citadel Advisors LLC bought a new stake in shares of PowerBank during the 3rd quarter worth approximately $52,000. Finally, HRT Financial LP bought a new stake in shares of PowerBank during the 4th quarter worth approximately $55,000.

PowerBank Stock Up 2.3%

SUUN traded up $0.02 during trading hours on Friday, hitting $0.69. 423,060 shares of the company’s stock were exchanged, compared to its average volume of 945,799. The stock has a market cap of $32.44 million, a price-to-earnings ratio of -2.66 and a beta of 1.25. PowerBank has a 1-year low of $0.64 and a 1-year high of $4.99. The stock’s 50-day moving average is $1.27 and its two-hundred day moving average is $1.58. The company has a quick ratio of 0.76, a current ratio of 1.14 and a debt-to-equity ratio of 2.47.

PowerBank (NASDAQ:SUUN) last issued its quarterly earnings results on Thursday, February 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.18). PowerBank had a negative net margin of 21.31% and a negative return on equity of 16.47%. The business had revenue of $2.23 million during the quarter, compared to analyst estimates of $10.10 million. Sell-side analysts predict that PowerBank will post -0.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on SUUN. Wall Street Zen downgraded PowerBank from a “hold” rating to a “strong sell” rating in a research note on Saturday, February 14th. Freedom Capital cut PowerBank from a “hold” rating to a “strong sell” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of PowerBank in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $5.00.

About PowerBank

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.