PowerBank Corporation (NASDAQ:SUUN) Receives Average Recommendation of “Hold” from Brokerages

PowerBank Corporation (NASDAQ:SUUN) has been given an average rating of “Hold” by the five research firms that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $4.00.

Several brokerages recently issued reports on SUUN. HC Wainwright restated a “buy” rating on shares of PowerBank in a report on Wednesday. Weiss Ratings reiterated a “sell (e+)” rating on shares of PowerBank in a research note on Wednesday, April 8th. Wall Street Zen cut PowerBank from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. Citigroup reaffirmed a “buy” rating on shares of PowerBank in a report on Wednesday, May 20th. Finally, Freedom Capital cut PowerBank from a “hold” rating to a “strong sell” rating in a research report on Monday, February 23rd.

PowerBank Stock Down 3.1%

NASDAQ:SUUN traded down $0.05 during trading hours on Wednesday, reaching $1.40. 6,114,661 shares of the company traded hands, compared to its average volume of 2,752,890. The company has a current ratio of 1.41, a quick ratio of 0.79 and a debt-to-equity ratio of 2.24. The business’s 50-day moving average price is $0.67 and its two-hundred day moving average price is $1.15. PowerBank has a 1 year low of $0.45 and a 1 year high of $2.55. The stock has a market capitalization of $65.98 million, a P/E ratio of -7.34 and a beta of 2.22.

PowerBank (NASDAQ:SUUN) last posted its quarterly earnings results on Thursday, May 21st. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). PowerBank had a negative net margin of 21.31% and a negative return on equity of 32.68%. The firm had revenue of ($0.03) million for the quarter, compared to analysts’ expectations of $5.43 million.

Institutional Investors Weigh In On PowerBank

A number of large investors have recently made changes to their positions in SUUN. Jane Street Group LLC bought a new position in shares of PowerBank in the 2nd quarter worth approximately $28,000. Citadel Advisors LLC bought a new stake in PowerBank during the third quarter valued at approximately $52,000. Goldman Sachs Group Inc. grew its position in PowerBank by 416.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 98,359 shares of the company’s stock valued at $178,000 after buying an additional 79,302 shares during the period. HRT Financial LP purchased a new stake in PowerBank during the fourth quarter valued at approximately $55,000. Finally, Virtu Financial LLC bought a new position in PowerBank in the fourth quarter worth 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.