Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) Sees Large Decrease in Short Interest

Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) saw a large drop in short interest during the month of April. As of April 30th, there was short interest totaling 19,463 shares, a drop of 53.2% from the April 15th total of 41,592 shares. Based on an average daily volume of 29,560 shares, the short-interest ratio is presently 0.7 days. Currently, 0.1% of the company’s shares are short sold.

Institutional Investors Weigh In On Sunrise New Energy

A hedge fund recently bought a new stake in Sunrise New Energy stock. XTX Topco Ltd bought a new stake in shares of Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 29,799 shares of the company’s stock, valued at approximately $29,000. XTX Topco Ltd owned approximately 0.12% of Sunrise New Energy at the end of the most recent quarter. 31.86% of the stock is owned by institutional investors and hedge funds.

Sunrise New Energy Price Performance

Sunrise New Energy stock traded down $0.05 during trading hours on Friday, reaching $0.66. The stock had a trading volume of 163,048 shares, compared to its average volume of 539,905. Sunrise New Energy has a 52 week low of $0.57 and a 52 week high of $1.86. The company has a fifty day simple moving average of $0.77 and a 200-day simple moving average of $0.91.

Sunrise New Energy (NASDAQ:EPOW) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.26) earnings per share (EPS) for the quarter. The business had revenue of $9.22 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Sunrise New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, April 24th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

About Sunrise New Energy

Sunrise New Energy Technologies, Inc (NASDAQ: EPOW) is a Delaware-based holding company focused on the development, manufacturing and sale of advanced energy solutions. Through its operating subsidiaries, the company provides battery systems, energy storage modules and power management software designed to support electric vehicles, renewable energy integration and portable power applications. Its offerings include lithium-ion battery packs, battery management systems (BMS) and turnkey energy storage solutions suitable for residential, commercial and industrial use.

The company’s product lineup is engineered to deliver high energy density, long cycle life and robust safety features.