PowerBank Corporation (NASDAQ:SUUN) Short Interest Update

PowerBank Corporation (NASDAQ:SUUN) saw a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 1,575,534 shares, a growth of 71.5% from the January 29th total of 918,742 shares. Based on an average trading volume of 2,694,728 shares, the short-interest ratio is presently 0.6 days. Approximately 3.4% of the shares of the stock are short sold. Approximately 3.4% of the shares of the stock are short sold. Based on an average trading volume of 2,694,728 shares, the short-interest ratio is presently 0.6 days.

PowerBank Stock Down 6.1%

NASDAQ:SUUN traded down $0.05 during mid-day trading on Friday, hitting $0.78. 569,539 shares of the company’s stock traded hands, compared to its average volume of 1,927,648. The company has a market capitalization of $36.34 million, a P/E ratio of -2.99 and a beta of 0.60. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.76 and a current ratio of 1.14. The company has a fifty day moving average of $1.49 and a 200 day moving average of $1.67. PowerBank has a twelve month low of $0.73 and a twelve month high of $4.99.

PowerBank (NASDAQ:SUUN) last released its quarterly earnings data on Thursday, February 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.18). The business had revenue of $2.23 million during the quarter, compared to analysts’ expectations of $10.10 million. PowerBank had a negative net margin of 21.31% and a negative return on equity of 16.47%. On average, analysts forecast that PowerBank will post -0.04 EPS for the current year.

Hedge Funds Weigh In On PowerBank

A number of institutional investors and hedge funds have recently made changes to their positions in SUUN. Jane Street Group LLC purchased a new position in PowerBank during the 4th quarter worth approximately $191,000. Goldman Sachs Group Inc. lifted its position in PowerBank by 416.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 98,359 shares of the company’s stock valued at $178,000 after purchasing an additional 79,302 shares during the period. Virtu Financial LLC purchased a new stake in shares of PowerBank in the fourth quarter valued at approximately $63,000. Citadel Advisors LLC acquired a new stake in shares of PowerBank in the third quarter valued at about $52,000. Finally, HRT Financial LP purchased a new stake in shares of PowerBank during the 4th quarter worth approximately $55,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Freedom Capital downgraded PowerBank from a “hold” rating to a “strong sell” rating in a report on Monday, February 23rd. Wall Street Zen lowered PowerBank from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 14th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PowerBank in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.00.

PowerBank Company Profile

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.