PowerBank (NASDAQ:SUUN) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of PowerBank (NASDAQ:SUUN) from a hold rating to a sell rating in a research report report published on Saturday.

Several other analysts also recently weighed in on SUUN. Weiss Ratings reiterated a “sell (e+)” rating on shares of PowerBank in a report on Wednesday, April 8th. Freedom Capital downgraded shares of PowerBank from a “hold” rating to a “strong sell” rating in a report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $4.00.

PowerBank Stock Down 5.0%

PowerBank stock opened at $0.66 on Friday. PowerBank has a fifty-two week low of $0.45 and a fifty-two week high of $2.55. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.76 and a current ratio of 1.14. The firm has a 50 day moving average price of $0.77 and a 200 day moving average price of $1.37. The company has a market capitalization of $30.87 million, a PE ratio of -2.52 and a beta of 1.75.

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

Hedge Funds Weigh In On PowerBank

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC purchased a new position in PowerBank in the 2nd quarter valued at approximately $28,000. NWF Advisory Services Inc. purchased a new position in PowerBank in the 3rd quarter valued at approximately $46,000. HRT Financial LP purchased a new position in PowerBank in the 4th quarter valued at approximately $55,000. Citadel Advisors LLC purchased a new position in PowerBank in the 3rd quarter valued at approximately $52,000. Finally, Virtu Financial LLC purchased a new position in PowerBank in the 4th quarter valued at approximately $63,000.

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. 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.