PowerBank Corporation (NASDAQ:SUUN) Receives $5.00 Average Price Target from Analysts

PowerBank Corporation (NASDAQ:SUUN) has earned an average rating of “Moderate Buy” from the four research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $5.00.

A number of brokerages have recently issued reports on SUUN. Weiss Ratings restated a “sell (e+)” rating on shares of PowerBank in a report on Friday, January 9th. Wall Street Zen raised PowerBank from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th.

PowerBank Stock Up 3.9%

Shares of SUUN opened at $1.48 on Thursday. The stock has a 50 day moving average price of $1.65 and a 200 day moving average price of $1.71. PowerBank has a one year low of $1.23 and a one year high of $6.43. The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.67 and a current ratio of 0.97. The stock has a market capitalization of $68.92 million, a price-to-earnings ratio of -9.25 and a beta of 0.60.

Hedge Funds Weigh In On PowerBank

Several hedge funds have recently bought and sold shares of the company. Jane Street Group LLC acquired a new stake in shares of PowerBank in the second quarter valued at $28,000. NWF Advisory Services Inc. acquired a new position in PowerBank during the 3rd quarter worth $46,000. Finally, Citadel Advisors LLC purchased a new stake in PowerBank during the 3rd quarter worth about $52,000.

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.