PowerBank (NASDAQ:SUUN) Cut to Strong Sell at Freedom Capital

Freedom Capital lowered shares of PowerBank (NASDAQ:SUUN) from a hold rating to a strong sell rating in a research note released on Monday morning,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. Wall Street Zen downgraded PowerBank from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of PowerBank in a report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, PowerBank has a consensus rating of “Hold” and a consensus price target of $5.00.

PowerBank Price Performance

NASDAQ:SUUN opened at $0.80 on Monday. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.76 and a current ratio of 1.14. The company has a 50-day moving average of $1.52 and a 200-day moving average of $1.68. PowerBank has a 52 week low of $0.73 and a 52 week high of $4.99. The company has a market capitalization of $37.26 million, a price-to-earnings ratio of -3.08 and a beta of 0.60.

PowerBank (NASDAQ:SUUN) last posted its quarterly earnings results on Thursday, February 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.18). The business had revenue of $2.23 million during the quarter, compared to analyst estimates of $10.10 million. PowerBank had a negative return on equity of 16.47% and a negative net margin of 21.31%. As a group, equities research analysts anticipate that PowerBank will post -0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PowerBank

Hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new stake in PowerBank in the 2nd quarter valued at about $28,000. NWF Advisory Services Inc. acquired a new stake in shares of PowerBank in the third quarter valued at approximately $46,000. Citadel Advisors LLC bought a new position in PowerBank in the 3rd quarter worth approximately $52,000. HRT Financial LP acquired a new position in PowerBank during the 4th quarter worth $55,000. Finally, Virtu Financial LLC acquired a new position in PowerBank during the 4th quarter worth $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.