PowerBank Corporation (NASDAQ:SUUN) Short Interest Down 20.6% in March

PowerBank Corporation (NASDAQ:SUUN) was the target of a large decline in short interest in March. As of March 13th, there was short interest totaling 869,344 shares, a decline of 20.6% from the February 26th total of 1,094,915 shares. Currently, 1.9% of the shares of the stock are short sold. Based on an average trading volume of 786,644 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Investors Weigh In On PowerBank

A number of large investors have recently bought and sold shares of SUUN. Jane Street Group LLC purchased a new position in PowerBank during the second quarter worth $28,000. Goldman Sachs Group Inc. lifted its position in shares of 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 acquiring an additional 79,302 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of PowerBank in the fourth quarter valued at $63,000. HRT Financial LP acquired a new stake in shares of PowerBank during the fourth quarter valued at $55,000. Finally, Citadel Advisors LLC acquired a new stake in shares of PowerBank during the third quarter valued at $52,000.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wall Street Zen upgraded PowerBank from a “sell” rating to a “hold” rating in a report on Saturday. Freedom Capital downgraded PowerBank from a “hold” rating to a “strong sell” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of PowerBank in a report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, PowerBank currently has an average rating of “Hold” and a consensus target price of $4.00.

PowerBank Stock Performance

Shares of SUUN opened at $0.55 on Monday. The company has a current ratio of 1.14, a quick ratio of 0.76 and a debt-to-equity ratio of 2.47. The stock has a market cap of $25.83 million, a P/E ratio of -2.12 and a beta of 1.28. The company has a 50-day moving average of $1.08 and a two-hundred day moving average of $1.48. PowerBank has a 12-month low of $0.54 and a 12-month high of $2.79.

PowerBank (NASDAQ:SUUN) last released its quarterly earnings results on Thursday, February 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate 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 business had revenue of $2.23 million during the quarter, compared to analyst estimates of $10.10 million. As a group, research analysts predict that PowerBank will post -0.04 EPS for the current fiscal year.

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.