PowerBank (NASDAQ:SUUN) Downgraded to “Strong Sell” Rating by Freedom Capital

PowerBank (NASDAQ:SUUN) was downgraded by equities research analysts at Freedom Capital from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Wall Street Zen lowered PowerBank from a “hold” rating to a “strong sell” rating in a research note on Saturday, February 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of PowerBank in a report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $5.00.

PowerBank Stock Performance

NASDAQ:SUUN opened at $0.76 on Monday. The company has a market cap of $35.57 million, a P/E ratio of -2.94 and a beta of 0.60. The firm’s 50 day moving average is $1.53 and its two-hundred day moving average is $1.69. PowerBank has a fifty-two week low of $0.73 and a fifty-two week high of $4.99. 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 (NASDAQ:SUUN) last announced its quarterly earnings data 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). 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%. Analysts expect that PowerBank will post -0.04 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SUUN. Jane Street Group LLC acquired a new stake in shares of PowerBank in the second quarter valued at about $28,000. Goldman Sachs Group Inc. lifted its position in PowerBank by 416.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 98,359 shares of the company’s stock worth $178,000 after acquiring an additional 79,302 shares in the last quarter. Virtu Financial LLC acquired a new position in PowerBank during the 4th quarter worth approximately $63,000. HRT Financial LP purchased a new position in PowerBank in the 4th quarter worth approximately $55,000. Finally, Citadel Advisors LLC acquired a new stake in PowerBank in the third quarter valued at 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.