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

Freedom Capital lowered shares of PowerBank (NASDAQ:SUUN) from a hold rating to a strong sell rating in a research note published on Monday morning,Zacks.com reports.

A number of other research analysts also recently issued reports on SUUN. Wall Street Zen downgraded shares of PowerBank from a “hold” rating to a “strong sell” rating in a research note on Saturday, February 14th. 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, two have given a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $5.00.

PowerBank Trading Down 4.1%

SUUN opened at $0.76 on Monday. The business has a fifty day moving average price of $1.53 and a 200 day moving average price of $1.69. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.14 and a quick ratio of 0.76. PowerBank has a 12 month low of $0.73 and a 12 month high of $4.99. The stock has a market capitalization of $35.57 million, a price-to-earnings ratio of -2.94 and a beta of 0.60.

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). PowerBank had a negative net margin of 21.31% and a negative return on equity of 16.47%. The company had revenue of $2.23 million during the quarter, compared to analysts’ expectations of $10.10 million. Sell-side analysts expect that PowerBank will post -0.04 earnings per share for the current fiscal year.

Institutional Trading of PowerBank

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new stake in shares of PowerBank during the 4th quarter worth approximately $63,000. 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 stake in PowerBank during the 4th quarter worth $55,000. Goldman Sachs Group Inc. lifted its position 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 acquiring an additional 79,302 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new position in PowerBank in the third quarter valued at $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.