Wall Street Zen Downgrades PowerBank (NASDAQ:SUUN) to Strong Sell

PowerBank (NASDAQ:SUUN) was downgraded by Wall Street Zen from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of PowerBank in a research note on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.00.

PowerBank Stock Down 7.4%

Shares of NASDAQ SUUN opened at $1.13 on Friday. The business has a 50-day simple moving average of $1.62 and a two-hundred day simple moving average of $1.71. PowerBank has a 52 week low of $1.11 and a 52 week high of $5.94. The company has a market cap of $52.62 million, a P/E ratio of -4.35 and a beta of 0.60. The company has a quick ratio of 0.76, a current ratio of 1.14 and a debt-to-equity ratio of 2.47.

PowerBank (NASDAQ:SUUN) last announced its quarterly earnings results on Friday, February 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.13). The firm had revenue of $2.23 million during the quarter, compared to analysts’ expectations of $10.10 million. PowerBank had a negative return on equity of 16.47% and a negative net margin of 21.31%. Research analysts anticipate that PowerBank will post -0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC bought a new stake in PowerBank during the second quarter worth about $28,000. NWF Advisory Services Inc. purchased a new position in shares of PowerBank during the 3rd quarter valued at about $46,000. HRT Financial LP bought a new stake in PowerBank in the 4th quarter worth approximately $55,000. Citadel Advisors LLC purchased a new stake in PowerBank in the third quarter worth approximately $52,000. Finally, Goldman Sachs Group Inc. grew its position in PowerBank by 416.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 98,359 shares of the company’s stock valued at $178,000 after acquiring an additional 79,302 shares during the last quarter.

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.