PowerBank (NASDAQ:SUUN) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of PowerBank (NASDAQ:SUUN) from a sell rating to a hold rating in a report published on Saturday.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of PowerBank in a research report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.00.

PowerBank Trading Up 15.6%

NASDAQ:SUUN opened at $1.63 on Friday. The company has a market capitalization of $61.87 million, a P/E ratio of -10.19 and a beta of 0.77. The stock’s 50 day moving average price is $1.67 and its 200 day moving average price is $1.67. The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.67 and a current ratio of 0.97. PowerBank has a 52 week low of $1.23 and a 52 week high of $6.43.

PowerBank (NASDAQ:SUUN) last posted its earnings results on Thursday, October 2nd. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.11. PowerBank had a negative net margin of 7.07% and a positive return on equity of 3.48%. The firm had revenue of $12.14 million during the quarter, compared to analysts’ expectations of $21.94 million. On average, research analysts forecast that PowerBank will post -0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On PowerBank

A number of hedge funds have recently bought and sold shares of SUUN. Jane Street Group LLC acquired a new stake in shares of PowerBank in the second quarter valued at about $28,000. Parallel Advisors LLC boosted its stake in PowerBank by 57.4% during the 2nd quarter. Parallel Advisors LLC now owns 27,422 shares of the company’s stock valued at $42,000 after purchasing an additional 10,000 shares during the period. NWF Advisory Services Inc. acquired a new stake in PowerBank in the 3rd quarter valued at approximately $46,000. Finally, Citadel Advisors LLC acquired a new stake in PowerBank in the 3rd quarter valued at approximately $52,000.

PowerBank Company Profile

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.