Freedom Capital Downgrades PowerBank (NASDAQ:SUUN) to Strong Sell

PowerBank (NASDAQ:SUUN) was downgraded by analysts at Freedom Capital from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the company. Wall Street Zen cut PowerBank from a “hold” rating to a “strong sell” rating in a research note on Saturday, February 14th. Weiss Ratings restated a “sell (e+)” rating on shares of PowerBank in a research report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $5.00.

PowerBank Stock Down 4.1%

Shares of NASDAQ SUUN opened at $0.76 on Monday. The stock has a market capitalization of $35.57 million, a P/E ratio of -2.94 and a beta of 0.60. 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 has a one year low of $0.73 and a one year high of $4.99. The firm’s 50 day simple moving average is $1.53 and its two-hundred day simple moving average is $1.69.

PowerBank (NASDAQ:SUUN) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $10.10 million. PowerBank had a negative net margin of 21.31% and a negative return on equity of 16.47%. As a group, analysts expect that PowerBank will post -0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On PowerBank

A number of large investors have recently made changes to their positions in SUUN. Jane Street Group LLC purchased a new position in shares of PowerBank during the fourth quarter valued at approximately $191,000. Goldman Sachs Group Inc. boosted its holdings 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 acquiring an additional 79,302 shares in the last quarter. Virtu Financial LLC bought a new stake in PowerBank in the fourth quarter valued at $63,000. HRT Financial LP purchased a new position in PowerBank during the 4th quarter valued at $55,000. Finally, Citadel Advisors LLC bought a new position in PowerBank in the 3rd quarter worth $52,000.

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.