PowerBank (NASDAQ:SUUN) Posts Quarterly Earnings Results, Misses Estimates By $0.13 EPS

PowerBank (NASDAQ:SUUN) announced its quarterly earnings results on Friday. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.13), Zacks reports. PowerBank had a negative return on equity of 15.16% and a negative net margin of 21.31%.The company had revenue of $2.23 million for the quarter, compared to analyst estimates of $10.10 million.

PowerBank Stock Performance

NASDAQ:SUUN opened at $1.13 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.97 and a debt-to-equity ratio of 2.56. The company has a market cap of $52.62 million, a price-to-earnings ratio of -4.35 and a beta of 0.60. The company has a fifty day simple moving average of $1.62 and a two-hundred day simple moving average of $1.70. PowerBank has a 52 week low of $1.11 and a 52 week high of $5.94.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of PowerBank in a research report on Friday, January 9th. Wall Street Zen cut shares of PowerBank from a “hold” rating to a “strong sell” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $5.00.

Institutional Investors Weigh In On PowerBank

Several hedge funds and other institutional 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 4th quarter valued at $191,000. HRT Financial LP acquired a new position in PowerBank in the fourth quarter valued at $55,000. Goldman Sachs Group Inc. increased its stake in 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 purchasing an additional 79,302 shares during the period. Finally, Citadel Advisors LLC acquired a new stake in PowerBank during the 3rd quarter worth approximately $52,000.

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.