Short Interest in PowerBank Corporation (NASDAQ:PBK) Grows By 155.1%

PowerBank Corporation (NASDAQ:PBK) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totaling 2,975,844 shares, a growth of 155.1% from the June 15th total of 1,166,670 shares. Based on an average trading volume of 11,861,434 shares, the short-interest ratio is currently 0.3 days. Currently, 5.2% of the shares of the stock are short sold.

PowerBank Stock Performance

Shares of NASDAQ:PBK opened at $0.62 on Tuesday. The firm has a fifty day simple moving average of $0.81 and a two-hundred day simple moving average of $0.98. PowerBank has a 52 week low of $0.45 and a 52 week high of $2.55. The company has a quick ratio of 0.79, a current ratio of 1.41 and a debt-to-equity ratio of 2.24. The stock has a market capitalization of $35.22 million, a P/E ratio of -3.27 and a beta of 2.32.

PowerBank (NASDAQ:PBK) last announced its earnings results on Thursday, May 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). PowerBank had a negative net margin of 21.31% and a negative return on equity of 32.68%. The business had revenue of ($0.02) million for the quarter, compared to analysts’ expectations of $5.43 million. On average, analysts expect that PowerBank will post -0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PowerBank

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC purchased a new position in shares of PowerBank in the 4th quarter worth approximately $191,000. Goldman Sachs Group Inc. raised its holdings in PowerBank by 416.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 98,359 shares of the company’s stock valued at $178,000 after buying an additional 79,302 shares during the period. Virtu Financial LLC purchased a new stake in PowerBank during the 4th quarter valued at $63,000. Citadel Advisors LLC bought a new stake in PowerBank in the third quarter worth $52,000. Finally, HRT Financial LP bought a new stake in PowerBank in the fourth quarter worth $55,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. HC Wainwright restated a “buy” rating on shares of PowerBank in a research report on Wednesday, June 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of PowerBank in a report on Wednesday, April 8th. Zacks Research raised PowerBank to a “hold” rating in a research note on Thursday, June 4th. Wall Street Zen cut PowerBank from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. Finally, Citigroup reiterated a “buy” rating on shares of PowerBank in a research report on Wednesday, May 20th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, PowerBank presently has a consensus rating of “Hold”.

About PowerBank

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.