PowerBank (NASDAQ:PBK) Raised to “Hold” at Zacks Research

PowerBank (NASDAQ:PBK) was upgraded by stock analysts at Zacks Research to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Citigroup reissued a “buy” rating on shares of PowerBank in a research note on Wednesday, May 20th. Wall Street Zen downgraded shares of PowerBank from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. HC Wainwright reissued a “buy” rating on shares of PowerBank in a research note on Wednesday. Freedom Capital downgraded shares of PowerBank from a “hold” rating to a “strong sell” rating in a research note on Monday, February 23rd. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of PowerBank in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, PowerBank presently has an average rating of “Hold” and a consensus price target of $4.00.

PowerBank Stock Performance

NASDAQ PBK opened at $0.92 on Thursday. The company has a current ratio of 1.41, a quick ratio of 0.79 and a debt-to-equity ratio of 2.24. The firm has a market capitalization of $43.58 million, a price-to-earnings ratio of -4.85 and a beta of 2.23. The firm’s 50 day simple moving average is $0.72 and its 200 day simple moving average is $1.14. PowerBank has a 1 year low of $0.45 and a 1 year high of $2.55.

PowerBank (NASDAQ:PBK) last posted its quarterly earnings results on Thursday, May 21st. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The firm had revenue of ($0.03) million for the quarter, compared to analyst estimates of $5.43 million. PowerBank had a negative return on equity of 32.68% and a negative net margin of 21.31%. As a group, research analysts expect that PowerBank will post -0.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PowerBank

Several large investors have recently modified their holdings of PBK. Jane Street Group LLC bought a new position in shares of PowerBank during the second quarter valued at $28,000. Citadel Advisors LLC bought a new position in shares of PowerBank during the third quarter valued at $52,000. HRT Financial LP bought a new position in shares of PowerBank during the fourth quarter valued at $55,000. Virtu Financial LLC bought a new position in shares of PowerBank during the fourth quarter valued at $63,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of 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 acquiring an additional 79,302 shares during the last quarter.

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.