Short Interest in PowerBank Corporation (NASDAQ:SUUN) Decreases By 14.4%

PowerBank Corporation (NASDAQ:SUUN) was the recipient of a large drop in short interest in April. As of April 15th, there was short interest totaling 703,047 shares, a drop of 14.4% from the March 31st total of 821,459 shares. Based on an average daily volume of 602,486 shares, the short-interest ratio is currently 1.2 days. Approximately 1.5% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Freedom Capital cut PowerBank from a “hold” rating to a “strong sell” rating in a research note on Monday, February 23rd. Wall Street Zen cut PowerBank from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of PowerBank in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.00.

PowerBank Stock Down 3.1%

NASDAQ SUUN opened at $0.56 on Friday. The stock has a fifty day moving average of $0.67 and a 200-day moving average of $1.29. The stock has a market capitalization of $26.40 million, a P/E ratio of -2.16 and a beta of 1.75. PowerBank has a 52 week low of $0.45 and a 52 week high of $2.55. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.76 and a current ratio of 1.14.

PowerBank (NASDAQ:SUUN) last released its earnings results on Thursday, February 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.18). The firm had revenue of $2.23 million during the quarter, compared to analyst estimates of $10.10 million. PowerBank had a negative net margin of 21.31% and a negative return on equity of 16.47%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC bought a new position in shares of PowerBank in the 2nd quarter worth $28,000. NWF Advisory Services Inc. bought a new position in shares of PowerBank in the 3rd quarter worth $46,000. HRT Financial LP bought a new position in shares of PowerBank in the 4th quarter worth $55,000. Citadel Advisors LLC bought a new position in shares of PowerBank in the 3rd quarter worth $52,000. Finally, Virtu Financial LLC bought a new position in shares of PowerBank in the 4th quarter worth $63,000.

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.