PowerBank (NASDAQ:SUUN) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of PowerBank (NASDAQ:SUUN) from a sell rating to a hold rating in a research report sent to investors on Saturday.

Several other brokerages also recently commented on SUUN. Freedom Capital downgraded shares of PowerBank from a “hold” rating to a “strong sell” rating in a report on Monday, February 23rd. Weiss Ratings restated a “sell (e+)” rating on shares of PowerBank in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $4.00.

PowerBank Trading Down 8.3%

Shares of PowerBank stock opened at $0.55 on Friday. The company has a market capitalization of $25.83 million, a P/E ratio of -2.12 and a beta of 1.25. The stock has a fifty day simple moving average of $1.08 and a 200 day simple moving average of $1.48. PowerBank has a 12-month low of $0.54 and a 12-month high of $2.79. The company has a current ratio of 1.14, a quick ratio of 0.76 and a debt-to-equity ratio of 2.47.

PowerBank (NASDAQ:SUUN) last issued its quarterly earnings data on Thursday, February 12th. The company reported ($0.15) earnings per share 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 the consensus estimate of $10.10 million. PowerBank had a negative net margin of 21.31% and a negative return on equity of 16.47%. On average, sell-side analysts anticipate that PowerBank will post -0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Jane Street Group LLC purchased a new stake in shares of PowerBank during the 4th quarter valued at $191,000. Goldman Sachs Group Inc. boosted its holdings in shares of PowerBank by 416.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 98,359 shares of the company’s stock worth $178,000 after buying an additional 79,302 shares during the last quarter. Virtu Financial LLC bought a new position in PowerBank during the fourth quarter valued at about $63,000. Citadel Advisors LLC bought a new position in PowerBank during the third quarter valued at about $52,000. Finally, HRT Financial LP purchased a new stake in PowerBank during the fourth quarter worth about $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.