PowerBank (NASDAQ:SUUN) Upgraded at Wall Street Zen

PowerBank (NASDAQ:SUUN) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PowerBank in a research report on Tuesday, October 14th. One 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’s stock. According to data from MarketBeat, PowerBank has an average rating of “Moderate Buy” and a consensus price target of $5.00.

PowerBank Stock Performance

NASDAQ:SUUN opened at $1.63 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.67 and a debt-to-equity ratio of 2.56. PowerBank has a 1-year low of $1.23 and a 1-year high of $6.43. The stock’s 50-day moving average is $1.67 and its 200-day moving average is $1.67. The stock has a market cap of $61.87 million, a P/E ratio of -10.19 and a beta of 0.77.

PowerBank (NASDAQ:SUUN) last issued its quarterly earnings results on Thursday, October 2nd. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.11. PowerBank had a positive return on equity of 3.48% and a negative net margin of 7.07%.The company had revenue of $12.14 million during the quarter, compared to analysts’ expectations of $21.94 million. Equities research analysts anticipate that PowerBank will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SUUN. Citadel Advisors LLC bought a new stake in PowerBank during the 3rd quarter worth approximately $52,000. NWF Advisory Services Inc. purchased a new stake in shares of PowerBank in the third quarter worth about $46,000. Jane Street Group LLC bought a new position in shares of PowerBank during the 2nd quarter valued at approximately $28,000. Finally, Parallel Advisors LLC lifted its position in PowerBank by 57.4% during the second quarter. Parallel Advisors LLC now owns 27,422 shares of the company’s stock valued at $42,000 after purchasing an additional 10,000 shares during the last quarter.

PowerBank Company Profile

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.