PowerBank Corporation (NASDAQ:SUUN) Short Interest Down 30.5% in February

PowerBank Corporation (NASDAQ:SUUN) was the target of a large drop in short interest in February. As of February 27th, there was short interest totaling 1,094,915 shares, a drop of 30.5% from the February 12th total of 1,575,534 shares. Currently, 2.3% of the shares of the stock are short sold. Based on an average trading volume of 999,231 shares, the short-interest ratio is currently 1.1 days. Based on an average trading volume of 999,231 shares, the short-interest ratio is currently 1.1 days. Currently, 2.3% of the shares of the stock are short sold.

Analyst Ratings Changes

Several brokerages recently commented on SUUN. Wall Street Zen cut PowerBank from a “hold” rating to a “strong sell” rating in a report on Saturday, February 14th. Weiss Ratings restated a “sell (e+)” rating on shares of PowerBank in a report on Friday, January 9th. Finally, Freedom Capital downgraded PowerBank from a “hold” rating to a “strong sell” rating in a research note on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, PowerBank has an average rating of “Hold” and an average price target of $5.00.

Institutional Investors Weigh In On PowerBank

Large investors have recently made changes to their positions in the business. Jane Street Group LLC bought a new position in shares of PowerBank during the 4th quarter valued at approximately $191,000. Goldman Sachs Group Inc. raised 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 purchasing an additional 79,302 shares during the period. Virtu Financial LLC purchased a new position in PowerBank in the fourth quarter valued at approximately $63,000. Citadel Advisors LLC purchased a new position in PowerBank in the third quarter valued at approximately $52,000. Finally, HRT Financial LP bought a new position in PowerBank during the fourth quarter valued at $55,000.

PowerBank Stock Up 2.3%

Shares of NASDAQ:SUUN traded up $0.02 during midday trading on Friday, hitting $0.69. 423,060 shares of the company’s stock were exchanged, compared to its average volume of 945,799. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.14 and a quick ratio of 0.76. PowerBank has a 12 month low of $0.64 and a 12 month high of $4.99. The company has a market cap of $32.44 million, a PE ratio of -2.66 and a beta of 1.25. The stock has a 50 day moving average price of $1.27 and a 200-day moving average price of $1.57.

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

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.