Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) Stock Short Interest Drops 93.9%

Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 9,399 shares, a decline of 93.9% from the September 15th total of 153,542 shares. Approximately 0.7% of the company’s shares are short sold. Based on an average trading volume of 36,112 shares, the short-interest ratio is currently 0.3 days.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Sunrise New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, Sunrise New Energy has a consensus rating of “Sell”.

Sunrise New Energy Stock Performance

NASDAQ EPOW traded down $0.03 during trading hours on Friday, hitting $3.28. 16,734 shares of the company’s stock were exchanged, compared to its average volume of 31,263. The business’s 50 day moving average is $8.75 and its 200-day moving average is $13.92. Sunrise New Energy has a 12-month low of $3.20 and a 12-month high of $35.25.

Sunrise New Energy Company Profile

Sunrise New Energy Co, Ltd. is a China-based company focused on the production and sale of anode materials used in lithium-ion batteries. Its products are designed for applications including electric vehicles, energy-storage systems, and consumer electronics.

The company’s operations are centered on the research, development, manufacturing, and commercialization of graphite-based battery anode materials. Sunrise New Energy has reported production activities in Guizhou Province, China, and serves customers in the broader lithium-ion battery supply chain.

Sunrise New Energy is led by Haiping Hu, who serves as chairman and chief executive officer.