PowerBank (NASDAQ:SUUN) Lowered to Sell Rating by Wall Street Zen

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

Other equities research analysts have also recently issued reports about the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of PowerBank in a report on Wednesday, April 8th. Freedom Capital cut PowerBank from a “hold” rating to a “strong sell” rating in a report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, PowerBank has a consensus rating of “Hold” and an average price target of $4.00.

PowerBank Stock Performance

NASDAQ SUUN opened at $0.66 on Friday. The stock has a 50-day simple moving average of $0.77 and a two-hundred day simple moving average of $1.37. The firm has a market capitalization of $30.87 million, a P/E ratio of -2.52 and a beta of 1.75. PowerBank has a fifty-two week low of $0.45 and a fifty-two week high of $2.55. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.76 and a current ratio of 1.14.

PowerBank (NASDAQ:SUUN) last released its quarterly earnings data on Thursday, February 12th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.18). PowerBank had a negative net margin of 21.31% and a negative return on equity of 16.47%. The company had revenue of $2.23 million for the quarter, compared to analysts’ expectations of $10.10 million. On average, equities analysts forecast that PowerBank will post -0.04 earnings per share for the current year.

Institutional Trading of PowerBank

Institutional investors have recently made changes to their positions in the company. HRT Financial LP purchased a new stake in shares of PowerBank during the 4th quarter valued at approximately $55,000. Jane Street Group LLC purchased a new stake in PowerBank in the fourth quarter valued at approximately $191,000. Goldman Sachs Group Inc. raised its position in PowerBank by 416.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 98,359 shares of the company’s stock valued at $178,000 after purchasing an additional 79,302 shares during the period. Virtu Financial LLC purchased a new stake in PowerBank in the fourth quarter valued at approximately $63,000. Finally, Citadel Advisors LLC purchased a new stake in PowerBank in the third quarter valued at approximately $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.