Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) Shares Shorted: Short Interest Down 93.9% in September

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

Sunrise New Energy Trading Down 0.9%

Sunrise New Energy stock opened at $3.28 on Friday. Sunrise New Energy has a 52 week low of $3.20 and a 52 week high of $35.25. The stock has a 50-day simple moving average of $8.75 and a 200 day simple moving average of $13.94.

Wall Street Analyst Weigh In

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

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.