Sunrise New Energy (NASDAQ:EPOW) Shares Down 0.2% – Here’s Why

Sunrise New Energy Co., Ltd. (NASDAQ:EPOW)’s share price traded down 0.2% during mid-day trading on Tuesday . The company traded as low as $0.5110 and last traded at $0.5278. Approximately 33,703 shares changed hands during trading, a decline of 89% from the average daily volume of 306,779 shares. The stock had previously closed at $0.5286.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Sunrise New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Sunrise New Energy has an average rating of “Sell”.

Sunrise New Energy Trading Down 0.2%

The company has a quick ratio of 0.48, a current ratio of 0.72 and a debt-to-equity ratio of 2.50. The stock has a fifty day simple moving average of $0.64 and a 200-day simple moving average of $0.76.

Sunrise New Energy (NASDAQ:EPOW) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.26) EPS for the quarter. The firm had revenue of $9.22 million during the quarter.

Hedge Funds Weigh In On Sunrise New Energy

An institutional investor recently bought a new stake in Sunrise New Energy stock. Yong Rong HK Asset Management Ltd bought a new stake in shares of Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 7,000,000 shares of the company’s stock, valued at approximately $6,861,000. Sunrise New Energy comprises approximately 2.1% of Yong Rong HK Asset Management Ltd’s investment portfolio, making the stock its 9th biggest holding. Yong Rong HK Asset Management Ltd owned 27.60% of Sunrise New Energy at the end of the most recent quarter. Institutional investors own 31.86% of the company’s stock.

About Sunrise New Energy

Sunrise New Energy Technologies, Inc (NASDAQ: EPOW) is a Delaware-based holding company focused on the development, manufacturing and sale of advanced energy solutions. Through its operating subsidiaries, the company provides battery systems, energy storage modules and power management software designed to support electric vehicles, renewable energy integration and portable power applications. Its offerings include lithium-ion battery packs, battery management systems (BMS) and turnkey energy storage solutions suitable for residential, commercial and industrial use.

The company’s product lineup is engineered to deliver high energy density, long cycle life and robust safety features.