PowerBank (NASDAQ:SUUN) Releases Earnings Results, Misses Estimates By $0.18 EPS

PowerBank (NASDAQ:SUUN) posted its earnings results on Thursday. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.18), Zacks reports. The company had revenue of $2.23 million for the quarter, compared to analysts’ expectations of $10.10 million. PowerBank had a negative net margin of 21.31% and a negative return on equity of 16.47%.

PowerBank Stock Performance

Shares of PowerBank stock opened at $1.13 on Monday. The company has a quick ratio of 0.76, a current ratio of 1.14 and a debt-to-equity ratio of 2.47. The stock’s fifty day moving average is $1.62 and its two-hundred day moving average is $1.71. PowerBank has a 52 week low of $1.11 and a 52 week high of $5.94. The company has a market capitalization of $52.62 million, a PE ratio of -4.35 and a beta of 0.60.

Wall Street Analysts Forecast Growth

SUUN has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of PowerBank in a report on Friday, January 9th. Wall Street Zen lowered shares of PowerBank from a “hold” rating to a “strong sell” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.00.

Institutional Investors Weigh In On PowerBank

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC purchased a new stake in PowerBank in the 4th quarter valued at about $191,000. Goldman Sachs Group Inc. raised its stake in shares of PowerBank by 416.1% during 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. Citadel Advisors LLC purchased a new stake in shares of PowerBank in the third quarter valued at approximately $52,000. Finally, HRT Financial LP purchased a new stake in shares of PowerBank in the fourth quarter valued at approximately $55,000.

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.