Short Interest in PowerBank Corporation (NASDAQ:PBK) Expands By 155.1%

PowerBank Corporation (NASDAQ:PBK) was the recipient of a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 2,975,844 shares, a growth of 155.1% from the June 15th total of 1,166,670 shares. Approximately 5.2% of the company’s shares are sold short. Based on an average daily trading volume, of 11,861,434 shares, the short-interest ratio is presently 0.3 days.

Hedge Funds Weigh In On PowerBank

Large investors have recently made changes to their positions in the business. Jane Street Group LLC bought a new position in PowerBank during the 4th quarter valued at approximately $191,000. Goldman Sachs Group Inc. increased its stake in PowerBank by 416.1% during the 4th 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 purchased a new position in PowerBank in the fourth quarter worth about $63,000. Citadel Advisors LLC purchased a new position in PowerBank in the third quarter worth about $52,000. Finally, HRT Financial LP bought a new position in shares of PowerBank in the fourth quarter worth approximately $55,000.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PBK shares. Wall Street Zen cut shares of PowerBank from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. Citigroup restated a “buy” rating on shares of PowerBank in a report on Wednesday, May 20th. Zacks Research raised shares of PowerBank to a “hold” rating in a research report on Thursday, June 4th. HC Wainwright reaffirmed a “buy” rating on shares of PowerBank in a research note on Wednesday, June 3rd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of PowerBank in a research report on Wednesday, April 8th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold”.

PowerBank Stock Down 1.7%

Shares of PBK stock traded down $0.01 during mid-day trading on Thursday, reaching $0.57. 207,580 shares of the company’s stock traded hands, compared to its average volume of 2,377,091. The company’s 50-day moving average price is $0.80 and its 200-day moving average price is $0.96. The company has a market cap of $32.46 million, a P/E ratio of -3.01 and a beta of 2.32. The company has a quick ratio of 0.79, a current ratio of 1.41 and a debt-to-equity ratio of 2.24. PowerBank has a 12 month low of $0.45 and a 12 month high of $2.55.

PowerBank (NASDAQ:PBK) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). PowerBank had a negative return on equity of 32.68% and a negative net margin of 21.31%.The business had revenue of ($0.02) million during the quarter, compared to the consensus estimate of $5.43 million. On average, equities analysts expect that PowerBank will post -0.23 earnings per share for the current fiscal 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.