Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) Sees Significant Growth in Short Interest

Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) was the target of a large growth in short interest in May. As of May 15th, there was short interest totaling 102,360 shares, a growth 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 company’s shares are sold short.

Sunrise New Energy Price Performance

Shares of Sunrise New Energy stock traded down $0.03 during trading on Thursday, hitting $0.68. The company’s stock had a trading volume of 61,255 shares, compared to its average volume of 226,585. The company has a quick ratio of 0.48, a current ratio of 0.72 and a debt-to-equity ratio of 2.50. The company has a fifty day simple moving average of $0.76 and a two-hundred day simple moving average of $0.88. Sunrise New Energy has a 52 week low of $0.57 and a 52 week high of $1.86.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Sunrise New Energy stock. XTX Topco Ltd purchased a new position in Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 29,799 shares of the company’s stock, valued at approximately $29,000. XTX Topco Ltd owned approximately 0.12% of Sunrise New Energy at the end of the most recent reporting period. Institutional investors own 31.86% of the company’s stock.

Analysts Set New Price Targets

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

About Sunrise New Energy

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.