PowerBank Corporation (NASDAQ:SUUN) Short Interest Down 20.6% in March

PowerBank Corporation (NASDAQ:SUUN) saw a significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 869,344 shares, a decrease of 20.6% from the February 26th total of 1,094,915 shares. Approximately 1.9% of the shares of the company are sold short. Based on an average trading volume of 786,644 shares, the days-to-cover ratio is presently 1.1 days.

PowerBank Stock Up 6.5%

Shares of SUUN stock opened at $0.54 on Wednesday. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.14 and a quick ratio of 0.76. The company’s fifty day moving average price is $1.03 and its 200-day moving average price is $1.46. The company has a market capitalization of $25.14 million, a price-to-earnings ratio of -2.06 and a beta of 1.25. PowerBank has a one year low of $0.45 and a one year high of $2.55.

PowerBank (NASDAQ:SUUN) last released its quarterly earnings data on Thursday, February 12th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.18). PowerBank had a negative return on equity of 16.47% and a negative net margin of 21.31%.The business had revenue of $2.23 million during the quarter, compared to the consensus estimate of $10.10 million. Sell-side analysts expect that PowerBank will post -0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On PowerBank

Several large investors have recently made changes to their positions in the company. Citadel Advisors LLC bought a new position in PowerBank during the third quarter valued at approximately $52,000. Virtu Financial LLC bought a new stake in PowerBank in the 4th quarter worth approximately $63,000. Jane Street Group LLC bought a new stake in PowerBank in the 4th quarter worth approximately $191,000. Goldman Sachs Group Inc. raised its holdings in shares of PowerBank by 416.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 98,359 shares of the company’s stock worth $178,000 after acquiring an additional 79,302 shares in the last quarter. Finally, HRT Financial LP purchased a new stake in shares of PowerBank during the 4th quarter worth approximately $55,000.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of PowerBank in a research report on Friday, January 9th. Freedom Capital lowered shares of PowerBank from a “hold” rating to a “strong sell” rating in a research report on Monday, February 23rd. Finally, Wall Street Zen upgraded shares of PowerBank from a “sell” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, PowerBank currently has an average rating of “Hold” and an average target price of $4.00.

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.