PowerBank (NASDAQ:SUUN) Rating Lowered to “Sell” at Wall Street Zen

PowerBank (NASDAQ:SUUN) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of PowerBank in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $5.00.

PowerBank Price Performance

SUUN stock opened at $1.59 on Friday. The company has a market capitalization of $59.56 million, a P/E ratio of -9.94 and a beta of 0.77. The company has a fifty day moving average price of $1.71 and a 200-day moving average price of $1.68. The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.67 and a current ratio of 0.97. PowerBank has a 52-week low of $1.23 and a 52-week high of $6.43.

PowerBank (NASDAQ:SUUN) last issued its quarterly earnings data on Thursday, October 2nd. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.11. The company had revenue of $12.14 million for the quarter, compared to analysts’ expectations of $21.94 million. PowerBank had a negative net margin of 7.07% and a positive return on equity of 3.48%. As a group, equities analysts expect 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 modified their holdings of SUUN. Jane Street Group LLC acquired a new stake in shares of PowerBank during the 2nd quarter worth approximately $28,000. Parallel Advisors LLC boosted its stake in PowerBank by 57.4% during the second quarter. Parallel Advisors LLC now owns 27,422 shares of the company’s stock worth $42,000 after acquiring an additional 10,000 shares in the last quarter. NWF Advisory Services Inc. bought a new position in PowerBank during the third quarter worth $46,000. Finally, Citadel Advisors LLC acquired a new stake in PowerBank in the third quarter worth $52,000.

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.