Analysts Set PowerBank Corporation (NASDAQ:SUUN) Target Price at $5.00

PowerBank Corporation (NASDAQ:SUUN) has been given a consensus recommendation of “Hold” by the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $5.00.

Several brokerages have recently commented on SUUN. Weiss Ratings reiterated a “sell (e+)” rating on shares of PowerBank in a report on Friday, January 9th. Freedom Capital downgraded shares of PowerBank from a “hold” rating to a “strong sell” rating in a research report on Monday, February 23rd. Finally, Wall Street Zen lowered shares of PowerBank from a “hold” rating to a “strong sell” rating in a research note on Saturday, February 14th.

Institutional Investors Weigh In On PowerBank

Several large investors have recently made changes to their positions in the business. Jane Street Group LLC purchased a new position in shares of PowerBank in the 2nd quarter worth about $28,000. NWF Advisory Services Inc. bought a new stake in PowerBank in the third quarter worth about $46,000. HRT Financial LP purchased a new position in PowerBank in the fourth quarter valued at about $55,000. Citadel Advisors LLC bought a new position in shares of PowerBank during the 3rd quarter valued at approximately $52,000. Finally, Virtu Financial LLC purchased a new stake in shares of PowerBank during the 4th quarter worth approximately $63,000.

PowerBank Stock Up 5.5%

SUUN stock opened at $0.80 on Monday. The firm has a market capitalization of $37.49 million, a PE ratio of -3.08 and a beta of 1.25. The company has a quick ratio of 0.76, a current ratio of 1.14 and a debt-to-equity ratio of 2.47. PowerBank has a twelve month low of $0.73 and a twelve month high of $4.99. The stock’s 50 day moving average is $1.42 and its 200-day moving average is $1.65.

PowerBank (NASDAQ:SUUN) last announced 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). PowerBank had a negative return on equity of 16.47% and a negative net margin of 21.31%.The company had revenue of $2.23 million for the quarter, compared to the consensus estimate of $10.10 million. Sell-side analysts expect that PowerBank will post -0.04 EPS for the current fiscal year.

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.