PowerBank (NASDAQ:SUUN) Downgraded by Wall Street Zen to Sell

Wall Street Zen lowered shares of PowerBank (NASDAQ:SUUN) from a hold rating to a sell rating in a report issued on Sunday.

Several other equities analysts have also commented on the company. Freedom Capital lowered PowerBank from a “hold” rating to a “strong sell” rating in a research report on Monday, February 23rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PowerBank in a research report on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $4.00.

PowerBank Stock Performance

PowerBank stock opened at $0.68 on Friday. The stock’s 50 day moving average price is $0.66 and its 200 day moving average price is $1.25. The firm has a market capitalization of $32.05 million, a PE ratio of -2.61 and a beta of 1.62. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.76 and a current ratio of 1.14. PowerBank has a one year low of $0.45 and a one year high of $2.55.

PowerBank (NASDAQ:SUUN) last released its quarterly earnings results on Thursday, February 12th. The company reported ($0.15) 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 analyst estimates of $10.10 million. PowerBank had a negative return on equity of 16.47% and a negative net margin of 21.31%.

Hedge Funds Weigh In On PowerBank

A number of institutional investors have recently made changes to their positions in the business. Jane Street Group LLC acquired a new position in shares of PowerBank in the 2nd quarter valued at approximately $28,000. NWF Advisory Services Inc. acquired a new position in shares of PowerBank in the 3rd quarter valued at approximately $46,000. HRT Financial LP acquired a new position in shares of PowerBank in the 4th quarter valued at approximately $55,000. Citadel Advisors LLC acquired a new position in shares of PowerBank in the 3rd quarter valued at approximately $52,000. Finally, Virtu Financial LLC acquired a new position in shares of PowerBank in the 4th quarter valued at approximately $63,000.

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.