Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) Short Interest Up 425.9% in May

Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) was the target of a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 102,360 shares, an increase of 425.9% from the April 30th total of 19,463 shares. Based on an average daily volume of 942,349 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.7% of the shares of the stock are sold short.

Institutional Investors Weigh In On Sunrise New Energy

An institutional investor recently bought a new position in Sunrise New Energy stock. Yong Rong HK Asset Management Ltd acquired a new stake in Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,000,000 shares of the company’s stock, valued at approximately $6,861,000. Sunrise New Energy comprises approximately 2.1% of Yong Rong HK Asset Management Ltd’s portfolio, making the stock its 9th largest position. Yong Rong HK Asset Management Ltd owned 27.60% of Sunrise New Energy as of its most recent filing with the Securities and Exchange Commission. 31.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Sunrise New Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Sunrise New Energy Stock Performance

Shares of NASDAQ:EPOW traded down $0.01 on Friday, reaching $0.68. 174,849 shares of the company were exchanged, compared to its average volume of 594,724. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.48 and a current ratio of 0.72. Sunrise New Energy has a 1-year low of $0.57 and a 1-year high of $1.86. The company has a 50-day moving average of $0.76 and a 200-day moving average of $0.87.

Sunrise New Energy (NASDAQ:EPOW) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.26) EPS for the quarter. The company had revenue of $9.22 million for the quarter.

Sunrise New Energy Company Profile

Sunrise New Energy Technologies, Inc (NASDAQ: EPOW) is a Delaware-based holding company focused on the development, manufacturing and sale of advanced energy solutions. Through its operating subsidiaries, the company provides battery systems, energy storage modules and power management software designed to support electric vehicles, renewable energy integration and portable power applications. Its offerings include lithium-ion battery packs, battery management systems (BMS) and turnkey energy storage solutions suitable for residential, commercial and industrial use.

The company’s product lineup is engineered to deliver high energy density, long cycle life and robust safety features.