PowerBank Corporation (NASDAQ:PBK) Short Interest Update

PowerBank Corporation (NASDAQ:PBK) was the recipient of a significant growth in short interest in June. As of June 30th, there was short interest totaling 2,975,844 shares, a growth of 155.1% from the June 15th total of 1,166,670 shares. Approximately 5.2% of the shares of the company are short sold. Based on an average daily volume of 11,861,434 shares, the short-interest ratio is currently 0.3 days.

PowerBank Price Performance

Shares of PBK traded down $0.02 during midday trading on Wednesday, hitting $0.58. 336,716 shares of the company traded hands, compared to its average volume of 2,393,465. The stock has a 50-day moving average of $0.81 and a 200-day moving average of $0.97. PowerBank has a one year low of $0.45 and a one year high of $2.55. The firm has a market cap of $33.02 million, a P/E ratio of -3.06 and a beta of 2.32. 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 announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). The firm had revenue of ($0.02) million during the quarter, compared to analysts’ expectations of $5.43 million. PowerBank had a negative return on equity of 32.68% and a negative net margin of 21.31%. As a group, sell-side analysts predict that PowerBank will post -0.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PBK. Jane Street Group LLC purchased a new position in shares of PowerBank during the second quarter worth about $28,000. HRT Financial LP purchased a new position in PowerBank in the 4th quarter worth approximately $55,000. Citadel Advisors LLC purchased a new position in PowerBank in the 3rd quarter worth approximately $52,000. Virtu Financial LLC bought a new position in shares of PowerBank in the 4th quarter worth $63,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of PowerBank by 416.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 98,359 shares of the company’s stock worth $178,000 after buying an additional 79,302 shares during the last quarter.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Wall Street Zen cut shares of PowerBank from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Citigroup reiterated a “buy” rating on shares of PowerBank in a research note on Wednesday, May 20th. Zacks Research raised shares of PowerBank to a “hold” rating in a report on Thursday, June 4th. Weiss Ratings restated a “sell (e+)” rating on shares of PowerBank in a research report on Wednesday, April 8th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of PowerBank in a report on Wednesday, June 3rd. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

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.