PowerBank Corporation (NASDAQ:SUUN) Short Interest Down 20.6% in March

PowerBank Corporation (NASDAQ:SUUN) saw a large decrease in short interest in March. As of March 13th, there was short interest totaling 869,344 shares, a decrease of 20.6% from the February 26th total of 1,094,915 shares. Approximately 1.9% of the company’s shares are short sold. Based on an average daily volume of 786,644 shares, the short-interest ratio is currently 1.1 days.

Analysts Set New Price Targets

SUUN has been the topic of several analyst reports. Freedom Capital cut shares of PowerBank from a “hold” rating to a “strong sell” rating in a research note on Monday, February 23rd. Wall Street Zen raised shares of PowerBank from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of PowerBank in a research report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, PowerBank currently has an average rating of “Hold” and a consensus price target of $4.00.

Institutional Investors Weigh In On PowerBank

Hedge funds have recently modified their holdings of the stock. Jane Street Group LLC purchased a new stake in PowerBank in the second quarter valued at approximately $28,000. NWF Advisory Services Inc. acquired a new position in PowerBank during the third quarter worth approximately $46,000. HRT Financial LP purchased a new position in PowerBank during the fourth quarter worth approximately $55,000. Citadel Advisors LLC acquired a new position in shares of PowerBank in the 3rd quarter valued at $52,000. Finally, Virtu Financial LLC acquired a new position in shares of PowerBank in the 4th quarter valued at $63,000.

PowerBank Stock Performance

PowerBank stock opened at $0.55 on Monday. The stock has a fifty day moving average price of $1.08 and a 200 day moving average price of $1.48. PowerBank has a 52 week low of $0.54 and a 52 week high of $2.79. The firm has a market capitalization of $25.83 million, a P/E ratio of -2.12 and a beta of 1.28. The company has a current ratio of 1.14, a quick ratio of 0.76 and a debt-to-equity ratio of 2.47.

PowerBank (NASDAQ:SUUN) last issued its quarterly earnings results on Thursday, February 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.18). The business had revenue of $2.23 million during the quarter, compared to analyst estimates of $10.10 million. PowerBank had a negative return on equity of 16.47% and a negative net margin of 21.31%. Equities research analysts anticipate that PowerBank will post -0.04 earnings per share for the current year.

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.