PowerBank Corporation (NASDAQ:SUUN) Receives Average Recommendation of “Hold” from Analysts

Shares of PowerBank Corporation (NASDAQ:SUUN) have earned an average recommendation of “Hold” from the five analysts that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $4.00.

A number of research analysts recently issued reports on the company. Freedom Capital downgraded PowerBank from a “hold” rating to a “strong sell” rating in a research note on Monday, February 23rd. Citigroup reaffirmed a “buy” rating on shares of PowerBank in a report on Wednesday, May 20th. Wall Street Zen lowered shares of PowerBank from a “hold” rating to a “sell” rating in a research report on Sunday, May 10th. HC Wainwright reissued a “buy” rating on shares of PowerBank in a research note on Wednesday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of PowerBank in a research report on Wednesday, April 8th.

PowerBank Stock Performance

PowerBank stock traded down $0.05 during trading on Wednesday, reaching $1.40. The company had a trading volume of 6,114,661 shares, compared to its average volume of 2,752,890. The firm has a market capitalization of $65.98 million, a price-to-earnings ratio of -7.34 and a beta of 2.22. The company has a current ratio of 1.41, a quick ratio of 0.79 and a debt-to-equity ratio of 2.24. The firm’s 50-day simple moving average is $0.67 and its 200 day simple moving average is $1.15. PowerBank has a 52 week low of $0.45 and a 52 week high of $2.55.

PowerBank (NASDAQ:SUUN) last released its quarterly earnings results on Thursday, May 21st. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The company had revenue of ($0.03) million for the quarter, compared to the consensus estimate of $5.43 million. PowerBank had a negative net margin of 21.31% and a negative return on equity of 32.68%.

Institutional Trading of PowerBank

A number of institutional investors and hedge funds have recently bought and sold shares of SUUN. Jane Street Group LLC bought a new stake in shares of PowerBank in the fourth quarter worth about $191,000. Goldman Sachs Group Inc. lifted its position in shares of PowerBank by 416.1% in the fourth 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 in the last quarter. Virtu Financial LLC bought a new position in PowerBank during the fourth quarter valued at approximately $63,000. Citadel Advisors LLC bought a new position in PowerBank during the third quarter valued at approximately $52,000. Finally, HRT Financial LP purchased a new position in PowerBank during the 4th quarter valued at approximately $55,000.

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.