PowerBank (NASDAQ:SUUN) Announces Earnings Results, Misses Expectations By $0.07 EPS

PowerBank (NASDAQ:SUUN – Get Free Report) released its earnings results on Thursday. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07), Zacks reports. PowerBank had a negative net margin of 21.31% and a negative return on equity of 16.47%.

PowerBank Stock Performance

NASDAQ SUUN traded up $0.03 on Thursday, hitting $0.67. 496,338 shares of the stock were exchanged, compared to its average volume of 1,256,529. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.14 and a quick ratio of 0.76. The business’s fifty day moving average is $0.64 and its 200 day moving average is $1.22. PowerBank has a 52 week low of $0.45 and a 52 week high of $2.55. The company has a market capitalization of $31.69 million, a PE ratio of -2.58 and a beta of 1.62.

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Institutional Trading of PowerBank

Several institutional investors and hedge funds have recently added to or reduced their stakes in SUUN. Jane Street Group LLC bought a new stake in PowerBank during the fourth quarter worth $191,000. Goldman Sachs Group Inc. increased 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 worth $178,000 after buying an additional 79,302 shares during the last quarter. Virtu Financial LLC acquired a new position in PowerBank during the fourth quarter worth approximately $63,000. Citadel Advisors LLC acquired a new position in PowerBank during the third quarter worth approximately $52,000. Finally, HRT Financial LP acquired a new position in PowerBank during the fourth quarter worth approximately $55,000.

Wall Street Analysts Forecast Growth

SUUN has been the subject of a number of analyst reports. Freedom Capital downgraded shares of PowerBank from a “hold” rating to a “strong sell” rating in a research report on Monday, February 23rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PowerBank in a research report on Wednesday, April 8th. Finally, Wall Street Zen downgraded shares of PowerBank from a “hold” rating to a “sell” rating in a research report on Sunday. One research analyst has rated the stock with a Strong Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $4.00.

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About PowerBank

(Get Free Report)

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.

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