Sunrise New Energy (NASDAQ:EPOW) Trading Down 3.8% – Here’s What Happened

Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) was down 3.8% on Thursday . The company traded as low as $0.3902 and last traded at $0.4050. Approximately 144,766 shares were traded during trading, an increase of 289% from the average daily volume of 37,225 shares. The stock had previously closed at $0.4210.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Sunrise New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Sunrise New Energy Trading Down 3.8%

The firm’s 50 day simple moving average is $0.57 and its 200 day simple moving average is $0.70. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.48 and a current ratio of 0.72.

Sunrise New Energy (NASDAQ:EPOW) last announced 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.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Sunrise New Energy stock. XTX Topco Ltd acquired a new position in Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 29,799 shares of the company’s stock, valued at approximately $29,000. XTX Topco Ltd owned 0.12% of Sunrise New Energy at the end of the most recent quarter. 31.86% of the stock is currently owned by institutional investors.

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.