Sunrise New Energy (NASDAQ:EPOW) Stock Price Down 2.5% – Here’s Why

Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) shares traded down 2.5% during trading on Tuesday . The stock traded as low as $0.77 and last traded at $0.7886. 34,318 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 155,318 shares. The stock had previously closed at $0.8086.

Analyst Upgrades and Downgrades

Several research firms have issued reports on EPOW. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sunrise New Energy in a report on Monday, December 29th. Wall Street Zen raised Sunrise New Energy to a “hold” rating in a report on Saturday, December 27th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Sunrise New Energy currently has an average rating of “Sell”.

Sunrise New Energy Trading Down 2.5%

The firm has a fifty day simple moving average of $0.80 and a 200-day simple moving average of $0.96.

Institutional Trading of Sunrise New Energy

A hedge fund recently bought a new stake in Sunrise New Energy stock. Yong Rong HK Asset Management Ltd bought a new stake in shares of Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 7,000,000 shares of the company’s stock, valued at approximately $6,861,000. Sunrise New Energy comprises approximately 2.1% of Yong Rong HK Asset Management Ltd’s portfolio, making the stock its 9th largest holding. Yong Rong HK Asset Management Ltd owned approximately 27.60% of Sunrise New Energy at the end of the most recent reporting period. Hedge funds and other institutional investors own 31.86% of the company’s stock.

About Sunrise New Energy

Sunrise New Energy Technologies, Inc (NASDAQ: EPOW) is a Delaware-based holding company focused on the development, manufacturing and sale of advanced energy solutions. Through its operating subsidiaries, the company provides battery systems, energy storage modules and power management software designed to support electric vehicles, renewable energy integration and portable power applications. Its offerings include lithium-ion battery packs, battery management systems (BMS) and turnkey energy storage solutions suitable for residential, commercial and industrial use.

The company’s product lineup is engineered to deliver high energy density, long cycle life and robust safety features.