PowerBank Corporation (NASDAQ:SUUN) Sees Large Increase in Short Interest

PowerBank Corporation (NASDAQ:SUUN) saw a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 1,575,534 shares, a growth of 71.5% from the January 29th total of 918,742 shares. Approximately 3.4% of the company’s shares are short sold. Based on an average daily volume of 2,694,728 shares, the short-interest ratio is presently 0.6 days. Based on an average daily volume of 2,694,728 shares, the short-interest ratio is presently 0.6 days. Approximately 3.4% of the company’s shares are short sold.

Institutional Trading of PowerBank

Several hedge funds and other institutional investors have recently bought and sold shares of SUUN. Jane Street Group LLC purchased a new position in shares of PowerBank in the 4th quarter valued at $191,000. Goldman Sachs Group Inc. boosted its position in 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 purchasing an additional 79,302 shares in the last quarter. Virtu Financial LLC bought a new stake in PowerBank during the fourth quarter valued at about $63,000. Citadel Advisors LLC purchased a new position in PowerBank in the third quarter valued at about $52,000. Finally, HRT Financial LP bought a new position in PowerBank in the fourth quarter worth about $55,000.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. 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 reiterated a “sell (e+)” rating on shares of PowerBank in a report on Friday, January 9th. Finally, Freedom Capital lowered PowerBank from a “hold” rating to a “strong sell” rating in a research note on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.00.

PowerBank Price Performance

PowerBank stock opened at $0.78 on Friday. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.14 and a quick ratio of 0.76. The stock has a market cap of $36.34 million, a price-to-earnings ratio of -2.99 and a beta of 0.60. The firm has a 50-day moving average of $1.49 and a two-hundred day moving average of $1.67. PowerBank has a 1 year low of $0.73 and a 1 year high of $4.99.

PowerBank (NASDAQ:SUUN) last posted its quarterly earnings results 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, research analysts forecast that PowerBank will post -0.04 earnings per share for the current year.

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.