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

PowerBank (NASDAQ:SUUN) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

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

PowerBank Stock Performance

Shares of SUUN stock opened at $1.59 on Friday. The stock has a market capitalization of $59.56 million, a price-to-earnings ratio of -9.94 and a beta of 0.77. PowerBank has a one year low of $1.23 and a one year high of $6.43. The company’s 50-day simple moving average is $1.71 and its 200-day simple moving average is $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 (NASDAQ:SUUN) last announced its quarterly earnings data on Thursday, October 2nd. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.11. PowerBank had a positive return on equity of 3.48% and a negative net margin of 7.07%.The firm had revenue of $12.14 million during the quarter, compared to analyst estimates of $21.94 million. Equities analysts anticipate that PowerBank will post -0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PowerBank

Several institutional investors have recently made changes to their positions in the stock. Citadel Advisors LLC bought a new position in shares of PowerBank during the third quarter valued at approximately $52,000. NWF Advisory Services Inc. acquired a new position in PowerBank during the 3rd quarter valued at approximately $46,000. Parallel Advisors LLC grew its stake in PowerBank by 57.4% during the 2nd quarter. Parallel Advisors LLC now owns 27,422 shares of the company’s stock worth $42,000 after buying an additional 10,000 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in PowerBank during the 2nd quarter worth $28,000.

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.