Short Interest in PowerBank Corporation (NASDAQ:SUUN) Expands By 46.6%

PowerBank Corporation (NASDAQ:SUUN) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 904,152 shares, a growth of 46.6% from the December 15th total of 616,937 shares. Currently, 2.2% of the company’s shares are short sold. Based on an average daily volume of 2,690,849 shares, the short-interest ratio is presently 0.3 days. Based on an average daily volume of 2,690,849 shares, the short-interest ratio is presently 0.3 days. Currently, 2.2% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of PowerBank in a research note on Friday, January 9th. Wall Street Zen raised PowerBank from a “sell” rating to a “hold” rating in a research report on Saturday, December 20th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $5.00.

PowerBank Stock Down 1.2%

NASDAQ SUUN traded down $0.02 during trading on Friday, reaching $1.61. The company’s stock had a trading volume of 1,673,083 shares, compared to its average volume of 2,326,252. The business has a 50-day moving average price of $1.64 and a 200-day moving average price of $1.69. PowerBank has a 1-year low of $1.23 and a 1-year high of $6.43. The stock has a market capitalization of $68.18 million, a PE ratio of -10.06 and a beta of 0.59. The company has a current ratio of 0.97, a quick ratio of 0.67 and a debt-to-equity ratio of 2.56.

Institutional Trading of PowerBank

Several large investors have recently made changes to their positions in SUUN. Parallel Advisors LLC increased its holdings in shares of PowerBank by 57.4% during the 2nd quarter. Parallel Advisors LLC now owns 27,422 shares of the company’s stock worth $42,000 after purchasing an additional 10,000 shares during the period. Jane Street Group LLC bought a new position in PowerBank during the second quarter valued at about $28,000. NWF Advisory Services Inc. acquired a new position in PowerBank in the 3rd quarter valued at approximately $46,000. Finally, Citadel Advisors LLC bought a new stake in shares of PowerBank in the 3rd quarter worth approximately $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.