PowerBank (NASDAQ:SUUN) Rating Increased to Hold at Wall Street Zen

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

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of PowerBank in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, PowerBank presently has an average rating of “Moderate Buy” and an average price target of $5.00.

PowerBank Price Performance

SUUN stock opened at $1.73 on Friday. The business’s 50-day moving average is $1.73 and its two-hundred day moving average is $1.70. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.96 and a quick ratio of 0.75. The firm has a market capitalization of $63.39 million, a P/E ratio of -10.81 and a beta of 0.82. PowerBank has a 1 year low of $1.23 and a 1 year high of $6.43.

PowerBank (NASDAQ:SUUN) last released its earnings results on Thursday, October 2nd. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.11. PowerBank had a negative net margin of 7.86% and a positive return on equity of 2.24%. The firm had revenue of $12.14 million for the quarter, compared to analyst estimates of $21.94 million. Analysts anticipate that PowerBank will post -0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PowerBank

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC purchased a new position in shares of PowerBank during the second quarter worth about $28,000. Baader Bank Aktiengesellschaft acquired a new stake in shares of PowerBank in the 1st quarter valued at about $35,000. Parallel Advisors LLC grew its stake in PowerBank by 57.4% during the 2nd quarter. Parallel Advisors LLC now owns 27,422 shares of the company’s stock worth $42,000 after buying an additional 10,000 shares during the last quarter. NWF Advisory Services Inc. acquired a new position in PowerBank during the third quarter worth approximately $46,000. Finally, Citadel Advisors LLC acquired a new position in PowerBank during the third quarter worth approximately $52,000.

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.