PowerBank (NASDAQ:SUUN) Cut to Strong Sell at Wall Street Zen

PowerBank (NASDAQ:SUUN) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “strong sell” rating in a research note issued on Saturday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of PowerBank in a research report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $5.00.

PowerBank Stock Down 7.4%

NASDAQ SUUN opened at $1.13 on Friday. The stock’s 50 day simple moving average is $1.62 and its 200 day simple moving average is $1.70. PowerBank has a one year low of $1.11 and a one year high of $5.94. The firm has a market cap of $52.62 million, a PE ratio of -4.35 and a beta of 0.60. The company has a debt-to-equity ratio of 2.56, a current ratio of 0.97 and a quick ratio of 0.67.

PowerBank (NASDAQ:SUUN) last posted its quarterly earnings data on Friday, February 13th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.13). PowerBank had a negative return on equity of 15.16% and a negative net margin of 21.31%.The business had revenue of $2.23 million during the quarter, compared to analyst estimates of $10.10 million. As a group, sell-side analysts forecast that PowerBank will post -0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PowerBank

Several institutional investors have recently modified their holdings of the business. NWF Advisory Services Inc. acquired a new position in PowerBank in the third quarter valued at approximately $46,000. Jane Street Group LLC bought a new stake in shares of PowerBank during the 4th quarter valued at $191,000. HRT Financial LP acquired a new position in shares of PowerBank in the 4th quarter valued at $55,000. Goldman Sachs Group Inc. boosted its position in shares of PowerBank by 416.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 98,359 shares of the company’s stock worth $178,000 after purchasing an additional 79,302 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new stake in shares of PowerBank during the third quarter worth $52,000.

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.