Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) Short Interest Down 64.5% in July

Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totaling 37,202 shares, a decline of 64.5% from the July 15th total of 104,790 shares. Based on an average daily volume of 31,429 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.3% of the shares of the company are short sold.

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 report on Monday, June 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Sunrise New Energy has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Sunrise New Energy stock. Yong Rong HK Asset Management Ltd purchased a new position in shares of Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,000,000 shares of the company’s stock, valued at approximately $6,861,000. Sunrise New Energy makes up about 2.1% of Yong Rong HK Asset Management Ltd’s portfolio, making the stock its 9th biggest holding. Yong Rong HK Asset Management Ltd owned 27.60% of Sunrise New Energy at the end of the most recent quarter. 31.86% of the stock is owned by hedge funds and other institutional investors.

Sunrise New Energy Price Performance

EPOW traded down $0.02 on Friday, reaching $0.53. The company had a trading volume of 172,907 shares, compared to its average volume of 308,740. The business has a 50 day simple moving average of $0.55 and a 200 day simple moving average of $0.69. The company has a current ratio of 0.72, a quick ratio of 0.48 and a debt-to-equity ratio of 2.50. Sunrise New Energy has a 52-week low of $0.35 and a 52-week high of $1.86.

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

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.