PowerBank Corporation (NASDAQ:PBK) Sees Significant Decrease in Short Interest

PowerBank Corporation (NASDAQ:PBK) saw a large decrease in short interest during the month of September. As of September 15th, there was short interest totaling 699,334 shares, a decrease of 50.0% from the August 31st total of 1,398,398 shares. Currently, 1.1% of the company’s stock are short sold. Based on an average daily trading volume, of 1,630,602 shares, the short-interest ratio is currently 0.4 days.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PBK shares. Zacks Research raised PowerBank to a “hold” rating in a research report on Thursday, June 4th. HC Wainwright reissued a “buy” rating on shares of PowerBank in a report on Wednesday, June 3rd. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, PowerBank has an average rating of “Hold”.

PowerBank Price Performance

Shares of PBK traded up $0.01 during mid-day trading on Tuesday, hitting $0.27. The company’s stock had a trading volume of 160,683 shares, compared to its average volume of 1,964,602. The stock has a market capitalization of $16.81 million, a price-to-earnings ratio of -1.43 and a beta of 2.38. PowerBank has a fifty-two week low of $0.26 and a fifty-two week high of $2.35. The firm has a 50-day moving average price of $0.41 and a 200 day moving average price of $0.61. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.41 and a quick ratio of 0.79.

PowerBank (NASDAQ:PBK) last released its quarterly earnings data on Monday, September 28th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.17). The company had revenue of $3.65 million for the quarter. PowerBank had a negative return on equity of 32.68% and a negative net margin of 21.31%. On average, research analysts predict that PowerBank will post -0.23 EPS for the current fiscal year.

About PowerBank

PowerBank Corporation (NASDAQ: PBK) is a renewable energy company that develops, constructs, owns and operates solar power and energy-storage projects. Its activities include distributed-generation and community-solar projects designed to supply electricity to residential, commercial and utility customers.

The company’s project portfolio has included solar installations and related energy-storage assets in the United States and Canada. PowerBank is involved throughout the project lifecycle, including site development, permitting, engineering, procurement, construction management, financing and ongoing asset operations.

The company was previously known as SolarBank Corporation and is headquartered in Toronto, Canada.