Sunrise New Energy Co., Ltd. (NASDAQ:EPOW – Get Free Report) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 153,542 shares, a drop of 89.9% from the August 31st total of 1,520,895 shares. Currently, 20.8% of the shares of the company are sold short. Based on an average trading volume of 397,537 shares, the short-interest ratio is presently 0.4 days.
Sunrise New Energy Trading Down 9.3%
Shares of EPOW traded down $0.59 during mid-day trading on Thursday, hitting $5.73. 17,075 shares of the company were exchanged, compared to its average volume of 200,881. Sunrise New Energy has a 1-year low of $5.33 and a 1-year high of $46.50. The company has a 50 day moving average of $10.52 and a 200-day moving average of $14.99. The company has a quick ratio of 0.48, a current ratio of 0.72 and a debt-to-equity ratio of 2.50.
Analysts Set New Price Targets
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sunrise New Energy in a report on Friday, September 4th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.
About Sunrise New Energy
Sunrise New Energy Co, Ltd. is a China-based company focused on the development, manufacture and sale of anode materials used in lithium-ion batteries. Its product portfolio centers on graphite-based anode materials, which are used in rechargeable batteries for electric vehicles, energy-storage systems and other applications.
The company operates a manufacturing facility in Guizhou Province, China, where it produces battery anode materials. Sunrise New Energy has described its operations as serving battery manufacturers and other customers in China and international markets, although publicly available information about its customer base and geographic reach is limited.
Sunrise New Energy is led by Chairman and Chief Executive Officer Haiping Hu.
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