Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) Shares Shorted: Short Interest Down 89.9% in September

Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) was the target of a significant decline in short interest in the month of September. As of September 15th, there was short interest totaling 153,542 shares, a decline of 89.9% from the August 31st total of 1,520,895 shares. Currently, 20.8% of the shares of the company are sold short. Based on an average trading volume of 397,537 shares, the short-interest ratio is currently 0.4 days.

Sunrise New Energy Stock Down 1.2%

Sunrise New Energy stock traded down $0.07 during midday trading on Friday, reaching $5.66. The stock had a trading volume of 13,717 shares, compared to its average volume of 106,964. Sunrise New Energy has a 12 month low of $5.33 and a 12 month high of $46.50. The company has a current ratio of 0.72, a quick ratio of 0.48 and a debt-to-equity ratio of 2.50. The firm’s 50-day moving average price is $10.39 and its 200 day moving average price is $14.92.

Wall Street Analysts Forecast Growth

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

About Sunrise New Energy

Sunrise New Energy Co, Ltd. is a China-based company focused on the development, manufacture and sale of anode materials used in lithium-ion batteries. Its product portfolio centers on graphite-based anode materials, which are used in rechargeable batteries for electric vehicles, energy-storage systems and other applications.

The company operates a manufacturing facility in Guizhou Province, China, where it produces battery anode materials. Sunrise New Energy has described its operations as serving battery manufacturers and other customers in China and international markets, although publicly available information about its customer base and geographic reach is limited.

Sunrise New Energy is led by Chairman and Chief Executive Officer Haiping Hu.